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Vol. XXXIII No. 3 Whole No. 171 MAY/JUNE 1994
ISSN 0031-1162
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Manuscripts, not under consideration elsewhere, and publications
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IN THIS ISSUE
THE PAPER COLUMN
PLATE LETTERING ON LARGE-SIZE NATIONAL BANK NOTES
AND THE MAINTENANCE AND REPIACEMENT OF PLATES
Peter Huntoon
THE ART OF THE DEAL: 10 G's FOR A FIVER
Leonard W. Boasberg
HOW I GOT STARTED
Bob Bolduc
THE UNITED STATES TREASURY SPECIMEN BOOKS
Raphael Ellenbogen
THE BUCK STARTS HERE: A PRIMER FOR COLLECTORS
Gene Hessler
A CURIOUS SOUTH CAROLINA NOTE IMPRINT
Benny Bolin
THE MAGNIFICENT CONFEDERATE MONTGOMERY NOTES
Brent Hughes
CATALOG OF ENVELOPED POSTAGE
Milton R. Friedberg
THOSE COLOR OVERPRINTS
Forrest W. Daniel
SOCIETY FEATURES
NO TES FROM ALL OVER
MONEY MART
ON THE COVER: This is the 125th anniversary of the death of E M. Stanton.
Lincoln's Secretary of War. This portrait was engraved by Charles Burt.
Change of address, and inquiries concerning non-delivery of PAPER MONEY and
for additional copies of this issue, contact the Secretary; the address is on the
next page.
Page 74
Paper Mone)’ Whole No. 171
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Paper Money Whole No. 171
Page 75
Plate Lettering on Large-Size
National Bank Notes
and the
Maintenance and Replacement of Plates
OBJECTIVE
The purpose of this article is to document the conventions used to letter the subjects on large size na-
tional bank note plates. In order to accomplish this, it is important to differentiate between altering,
reentering and replacing national bank printing plates in order to determine when plate letters
changed.
DEFINITIONS
The processes of replacing, altering and reentering plates must be examined in order to provide
clarity to this discussion.
Replacement plates were entirely new plates that were manufactured to replace worn plates. Be-
ginning in 1878, the plate letters on replacement plates were advanced for the various denominations
from those on the previous plates for a given bank.
Altered plates were existing plates on which design elements were changed such as converting a
territorial plate to a state plate, changing the treasury signatures, or, in the case of the startup of the
Series of 1882 and 1902 date back issues, altering the security clause to include "or other securities."
Lesser alterations included adding or removing manufacturer imprints and extending design ele-
ments to the borders. In general, the plate letters on altered plates were left unchanged with one
major group of exceptions. All plate letters were advanced when the security clause on the faces of
Series of 1882 and 1902 were altered to read "or other securities."
Reentered plates were existing worn plates upon which design elements were repressed from rolls
to refurbish details. The plate letters on reentered plates were left unchanged, but occasionally moved
slightly.
ALTERED PLATES
r ■ ^ I HE altering of plates was a very common occurrence,
particularly in the early series. For example, Original Se-
ties plates were altered into Series of 1875 plates by the
Bureau of Engraving and Printing through the addition of new
treasury signatures and the Bureau imprint. The bank titles on
Original Series and Series of 1875 plates were altered in a
number of instances involving title changes. In the extreme, an
entirely different bank title was placed on an existing plate.
Some interesting examples follow.
The title of The Second National Bank of Havana, New York
(343) was changed during the Original Series to The Havana
National Bank on January 9, 1874. The bank was receiving
5-5-5-5s and the old title plate was altered to the new title with
a new plate date of March 20, 1874 and new treasury signatures
of Allison-Spinner. These alterations were carried out by the
Continental National Bank Note Company.
The First National Bank of Rockville, Indiana (63) was or-
ganized under the Act of February 25, 1863, and was liquidated
while issuing Series of 1875 notes on April 25, 1877. It was suc-
ceeded by The National Bank of Rockville (2361), chartered on
June 16, 1877. The history of its A-B-C-D S-5-5-5 plate is fas-
cinating. The plate began as an Original Series with
Chittenden-Spinner signatures, plate date of November 2,
1863, act date of February 25, 1863, and The First National title.
It was next altered by the Bureau of Engraving and Printing into
a Series of 1875 plate by changing the signatures to Allison-
New and adding the Bureau imprint. All else remained the
same.
Upon the liquidation of The First National Bank, the Bureau
received an order from the Comptroller of the Currency )ohn
Knox on June 27, 1877, as follows:
S
THE PAPER COLUMN
by Peter Huntoon
Please change plate S.5.5.5 for First National Bank of Rockville, In-
diana, charter number 63, so as to read "The National Bank of Rock-
ville," Rockville, Indiana, charter number 2361. Also change date of
note, so as to read lune30, 1877. (Bureau of Engraving and Printing,
various dates-b).
These alterations were made, and, in addition, the treasury sig-
natures were changed to Allison-Wyman.
Page 76
Paper Money Whole No. 171
The twist in this case was that the altered plate still carried
the act approval date of February 25, 1863 because charter 63
was granted under the 1863 act. Through an oversight, this date
was not changed when the plate was altered, even though the
new bank, charter 2361, was an Act of June 3, 1864 bank! Later,
an E-F-G-H replacement plate was made for the bank and it
carried the proper act approval date.
The most interesting plate alteration order that I found was
the following, again from Comptroller Knox, and dated May 7,
1877:
Please change the plate 5.5.S.5 prepared for The Farmers National
Bank of Mattoon, Illinois, which plate was ordered to be prepared
in letter from this office February 14, 1876, to The Farmers National
Bank of Platte City," Platte City, Missouri. Transfer to bear date May
25, 1877, charter number 2356.
Enlargement of the corner of a $5 Original Series note from The Tenth Na-
tional Bank of the Cit}’ of New York, New York (307), from a replacement)?)
plate as indicated by the number 2 belote the lower plate letter B. (Photo
courtes)’ of Doug Walcutt who discovered this variet)'. )
There was no Farmers National Bank of Mattoon, Illinois. The
original order was a mistake and the Comptroller was saving
money by altering the plate instead of having an entirely new
one made.
Although the previous examples of altering represent both
major and minor changes, they did not lead to changes in the
lettering of the subjects on the plates. The wave of alterations
that produced lettering advances was forced by passage of the
Emergency Currency Act of May 30, 1908. This act required that
all Series of 1882 and 1902 face plates include the clause "or
other securities." Approximately 10,000 plates were altered to
comply with this act, and the plate letters on those plates were
advanced when they were altered.
REENTERED PLATES
Reentering was very common throughout the large size na-
tional bank note issues because it cost-effectively prolonged
the life of the plates. During reentry, the design elements on
some Series of 1875 and 1882 plates were simultaneously al-
tered, but not the plate letters. Beginning in the late 1870s the
practice was adopted of changing the treasury signatures when
a plate was thoroughly reentered. This practice ceased within a
few years.
Typical Series of 1902 plates lasted for about 35,000 impres-
sions. The Series of 1902 $5 plates for The First National Bank
of the City of New York (29) lasted for an average of about
70,000 impressions, revealing that these plates were extensively
reentered.
REPLACEMENT PLATES AND
EVOLUTION OF LETTERING CONVENTIONS
The problem of worn out plates plagued the national bank
note printings from the beginning. Replacement plates made
during the Original Series by the bank note companies carried
the same letters and signatures as those they replaced.
There is one known example of an Original Series plate that
1 interpret as being a replacement plate that carried an
identifier indicating its status. This was a 5-5-S-5 forThe Tenth
National Bank of New York, New York (307) upon which a
small number 2 was engraved under the lower right plate letter
on all four subjects. This plate was prepared by the Continental
Bank Note Company. The variety was discovered in 1985 by
Doug Walcutt, the leading student of Original Series and Series
of 1875 varieties. Walcutt cautions that without proof we
cannot be certain that the 2s were added to an existing plate
after it was altered, so in his view the variety could represent ei-
ther an altered or replacement plate.
The incrementing of plate letters on replacement plates was
a Bureau of Engraving and Printing innovation that com-
menced in 1878, during the Series of 1875, as the Bureau as-
sumed responsibility for making plates. Important is the fact
that the current treasury signatures were placed on the earliest
Series of 1875 replacement plates, not the signatures that ap-
peared on the plates that they replaced. The first Bureau
replacements appear to have been 5-5-5-5s with the Scofield-
Gilfillan combination, indicating that they were made after
April 1, 1878. One example is the E-F-G-H Series of 1875 5-5-5-5
plate for The Second National Bank of Springfield, Mas-
sachusetts (181) which bears the Scofield-Gilfillan combina-
tion. This plate replaced an A-B-C-D Series of 1875 5-5-5-5
Allison-New plate. The practice of placing new signatures on
Paper Money Whole No. 171
national eu liiiEiscY
‘SSfr
4 ^
-JXv-
Pair 0 / Series of 1875 $5 notes from The Second National Ranh of Springfield, Massachusetts (181 ). The “E" note is from
a replacement plate, and the treasury signatures on it are Scofteld-Cilftllan, the officers current when the replacement plate
was made. (Photos courtesy of Doug Walctttt.)
replacement plates appears to have ceased before 1882. The last
such plates carry the Bruce-Gilfillan signature combination.
LETTERING CONVENTIONS
Plate lettering conventions at the Bureau of Engraving and
Printing had become fairly well standardized by the time the
Series of 1882 was introduced. The following guidelines
evolved:
1. The lettering of subjects for each denomination began at A
with the start of each new series for every bank. Included
were the new Series of 1902 plates for banks that were ex-
tended in 1921 or 1922, which already had been issuing Se-
ries of 1902 notes.
2. Lettering advanced consecutively within each denomina-
tion down the plate, and then from plate to plate in the
order in which the plates containing that denomination
were made.
3. Plate letters for the different denominations reverted to A if
the bank title changed or the bank reassumed an earlier
charter number. Letters did not change on territorial plates
that were altered into state plates.
4. Plate letters were advanced on existing Series of 1882 and
1902 plates when they were altered to the "or other securi-
ties" variety with the introduction of the date back types.
LETTERING SEQUENCE
Lettering progressed within a given denomination from sub-
ject to subject as the plates were made. See the independent se-
quences of letters for the $10s and $20s in Table 1.
The lettering sequence usually did not include the full al-
phabet. The sixth format in a series of 4-subject single denomi-
nation plates such as a 5-5-5-S or 10-10-10-10 was U-V-W-X. The
letters Y and Z were skipped so that the seventh format was A a -
B|,-C r -D n . Thus, the style of letting was homogeneous on the
plate instead of the heterogeneous Y-Z-A a -B b .
Similarly, the eighth format in a series of 10-10-10-20 plates
was V-W-X-H. The letters Y and Z were skipped on the $10s on
the next format, and the plate was lettered A a -B b -C c - 1. Here,
the styles of letters used on like denominations remained
homogeneous. Notice that the $20 was consecutive from the
preceding plate. The 24th format was V,-W r X 3 -X. The Y was
not used on the $20 on the next plate. Rather, the Y and Z were
once again skipped and the 25th format was A 4 -B 4 -C 4 -A a ! See
Table 1.
The only way the letters Y and Z could be reached was on
$10s in cases where there was a succession of intermixed
10-10-10-20 and 10-10-10-10 plates. This actually occurred as
shown in Table 2 for Hanford, Connecticut (121), and Wilkes
Barre, Pennsylvania (104). The W-X-Y-Z plate for Hanford (121)
was ordered September 16, 1926, and the one for Wilkes Barre
Page 78
Paper Mone y Whole No. 171
$10 Series of 1 002 blue seal plain bach note from The First National Bank of Hartford, Connecticut (121), with plate letter
"Z" See Table 2. (Photo courtesy of Robert Kvederas.)
(104) February 6, 1929. Notice on Table 3 how the Y y was
reached for a $10 on The National Bank of Commerce in New
York (733). Although theoretically possible, the letters Y and Z
were never used in a 50-100/50-50-50-100 mix because no bank
required enough plates of those combinations to cycle to the
end of the alphabet.
Notice the progression of lettering styles on Table 1 as the al-
phabet was cycled: A, A a , A 3 , A.,, etc. For convenience, the
numbers are herein referred to as subscripts but there is great
variability in the placement of these numbers next to the plate
letters. The subscript 2 was not used. In what is a measure of
great financial prowess, The First National Bank of the City of
New York (29) reached $5 Series of 1902 plate A 7 -B 7 -C 7 -D 7 ,
the highest format found on any plate. This plate was ordered
November 3, 1928. The highest format used on a 10-10-10-20
plate was P 5 -Q 5 -R 5 -N n for the same bank on a Series of 1902
plate completed on August 6, 1928.
The plates for the large banks progressed through the let-
tering alphabet rapidly. For example. The National Bank of
Commerce in New York (733) was beginning to cycle through
the alphabet a second time using the A a style on its Series of
1902 10-10-10-10 and 10-10-10-20 issues by the end of red seal
era. The bank had cycled well into the number 4 numerical
subscript alphabet during its date back issues before it ceased
issuing notes in 1915. The double letter variety occurs on Series
of 1882 notes for a number of banks, although the numerical
subscripts were not reached in that series.
DESIGN REPLACEMENTS
Face plates containing certain title layout varieties were syste-
matically replaced during the Series of 1882 issues. The early
$5s utilized a face format in which the treasury signatures were
stacked above and to the left of the bank title. These were
phased out and replaced with a more standardized in-line sig-
nature variety beginning about the middle of 1887 and con-
tinuing at least through late 1903, based on approval dates on
proofs that I examined. The following letter from Edward O.
Graves, Chief of the Bureau of Engraving and Printing to ).
Abrahams, Deputy Comptroller of the Currency, dated April
25, 1888, nicely explains the motivation behind this seeming
rash of replacements:
I am in receipt of your letter of the 24th instant in-dosing, with the
request that I will inform you whether its wish can be complied
with, a letter from the Peoples National Bank of Clay Center,
Kansas, No. 3345, asking if a change in the character of the title on
its plate can be made so as to remedy its excessive plainness, and
stating that a similar favor has been accorded the First National
Bank of that place; No. 3072. The letter of the Peoples National
Bank is herewith returned with the information that the change in
the plate of the First National Bank was made for the reason that
the engraving of the title on its former plate was inferior and inar-
tistic, being produced by the patent lettering process, and that a
new plate engraved in a more artistic style was prepared, not as a
favor to the bank, but for the credit of this Bureau. This course has
been pursued at the discretion of the officers of the Bureau to the
extent that the state of the work permitted with those national bank
notes plates on which the lettering was conspicuously inferior. As
the Peoples National Bank does not fall within this category, I
would not feel warranted in having a new plate prepared for it. In
any event, it would not be desirable to have the titles of two banks
in the same town engraved in the same style (Bureau of Engraving
and Printing, various dates-b).
Similarly, many Series of 1882 10-10-10-20 faces were purged
during the same period. Many of these plates had been made
using American Bank Note Company rolls. One example of the
10-10-10-20 replacements of this type involved The Putnam
County National Bank of Carmel, New York (976). This bank
issued 12717 sheets of 10-10-10-20s, far fewer than would cause
a plate to wear out, yet a new plate was made for the bank and
approved for use on November 3, 1897. It had an entirely
different bank title layout, which had the more standard turn-
of-the-century Bureau of Engraving and Printing look. This ac-
tivity seems to have flourish in the 1887-1890 period, followed
by a lull in 1890-1891 as the glut of 1889-1890 territorial to state
alterations for Dakota, Montana, Washington, Idaho, Wyo-
ming, and belatedly, Colorado, took priority.
In the case of the purged Series of 1882 varieties, the replace-
ment plates sported advanced plate letters, but utilized the
same plate dates and treasury signatures as on the plates that
were replaced. These type of replacement plates should be dis-
tinguished from numerous Series of 1882 10-10-10-20 and
50-100 American Bank Note Company plates that were altered
by the Bureau of Engraving and Printing through replacement
of the bank note company imprint with the Bureau imprint in
:r oFWfflfe
Paper Mone)' Whole No. 171
SERIES OF !fM)2
series onooS
Yirnxinri ft the fifffit
Enlargements showing Series of 1902 plate lettering that has advanced into the second (A .J and fourth (A 4 . E 4 ) passes
through the lettering alphabet. There is great variation in the placement of the duplicate letters and the numbers on such
notes.
Table 1. Plate letters used on the Series of 1902 10-10-10-20 plates for The First National Bank
of the City of New York, New York (29). Notice that the letters Y and Z were not used for
either the $10s or $20s.
A-B-C-A
D-E-F-B
G-H-l-C
l-K-L-D
M-N-O-E
P-Q-R-F
S-T-U-G
V-W-X-H
Aa'Bb'QtI
D| 3 -E t -Cc-I
G c -H„-l r K
1,-Kk-L.L
M m -N n -O d -M
P i>-Qq-IV N
S s -T r U u -0
V v -W»,-Xv-P
A 3 -B 3 -C 3 -Q
d 3 -e 3 -f 3 -r
g 3 -h 3 -i 3 -s
| 3 -K 3 -L,-T
m 3 -n 3 -o 3 -u
p 3 -q 3 -r 3 -v
s 3 -t 3 -u 3 -w
V 3 -W 3 -X 3 -X
Note: The last Series of 1902 5-5-5-5 plate for this bank
was A 7 -B 7 -C 7 -D 7 .
A 4 -B 4 -C 4 -A a
D 4 -E 4 -F 4 -B b
G 4 -H 4 -1 4 -Cc
1 4 -K 4 -L,.-D d
M 4 -N 4 -0 4 -E(:
P 4 -Q 4 -R 4 -FF
S4-t 4 -u 4 -g c
V 4 -W 4 -X 4 -H h
a s -b 5 -c 5 -i,
D 5 -E 5 -F 5 -I|
G 5 -H 5 -I 5 -K k
k 5 -l 5 -m 5 -l u
m 5 -n 5 -o 5 -m m
P 5 -Q 5 -R 5 -N n
Page 80
Paper Money Whole No. 171
Table 2. Plate letters used on Series of 1902 plates for The Table 3. Plate letters on selected Series of 1902 plates for
Second National Bank of Wilkes-Barre, Pennsyl- The National Bank of Commerce, New York, New
vania (104), and The First National Bank of Hart- York (733). Notice the use of Y y .
ford, Connecticut (121),
plate leUers Y and Z.
that led to the use of
10-10-10-20
Oo*P i>'Qq4
Combination
Plate Letters
10-10-10-10
10-10-10-10
10-10-10-10
R [cSs-T,-U u
Vv-Ww-Xx-Yy
A 3 -B 3 -C 3 -D 3
10-10-10-20
A-B-C-A
10-10-10-10
D-E-F-C
10-10-10-20
H-I-J-B
10-10-10-10
U 3 -V 3 -W 3 -X 3
10-10-10-10
K-L-M-N
10-10-10-10
A 4 -B.,-C 4 -D.,
10-10-10-10
O-P-Q-R
10-10-10-10
S-T-U-V
10-10-10-10
W-X-Y-Z
10-10-10-10
Q 4 -R 4 -S 4 -T 4
the lower border and removal of the "Printed at the Bureau, En-
graving & Printing, U. S. Treasury Dept" notation along the
border. The plate letters on the altered plates were not in-
cremented, and the title layouts were unchanged. An excellent
example is the 10-10-10-20 plate forThe Albuquerque National
Bank, Territory of New Mexico (3222) which was recertified for
use on luly 25, 1884 after having these alterations.
Certainly there were exceptions to the guidelines outlined
here for replacement plates. For example, I found a notice to
the Comptroller from the Bureau dated November 5, 1889 ad-
vising that a Series of 1882 5-5-5-S replacement plate lettered E-
F-G-H had been prepared forThe City National Bank of Grand
Rapids, Michigan (3293), with a new style title layout, small
charter numbers, BEP imprint, and new treasury' signatures
(Bureau of Engraving and Printing, various dates-b). By this
time, the changing of the treasury signatures had long ago been
discontinued for replacement plates.
DISCUSSION
The early replacement plates in the national bank note series
were prepared by the bank note companies during the Original
Series and were virtually identical to those that they replaced,
having identical dates, treasury signatures and plate letters. The
advancing of plate letters on replacement plates was a Bureau
of Engraving and Printing innovation that occurred as the Bu-
reau assumed responsibility for making plates during the Se-
ries of 1875. The concept of exactly what constituted a
replacement plate evolved within the Bureau during the Series
of 1875. In addition to advancing the plate letters on the new
plates, new treasury signatures were also added at first. How-
ever, by the beginning of 1882, it appears that the idea of a
replacement plate had assumed a more literal meaning. Aside
from the plate letters, everything else remained the same as on
the previous plate including the treasury signatures.
New bank title layouts were commonly used on replacement
plates in the Series of 1875 and 1882. In fact, the purpose of
most Series of 1882 replacement plates was to replace "inferior
and inartistic" layouts. In contrast, the various denominations
on Series of 1902 replacement plates looked exactly like those
they replaced. Consequently, the Series of 1902 saw full stan-
dardization of the concept of a replacement plate, specifically
that the designs of like denominations were identical from
plate to plate save only for the progression of the plate letters.
ACKNOWLEDGMENT
Doug Walcult critically reviewed this article providing many sugges-
tions for its improvement. He also provided data from his observa-
tions on replacement and reentered Original Series and Series of 1875
notes, and provided crucial photographs reproduced here.
REFERENCES CITED AND SOURCES OF DATA
Bureau of Engraving and Printing, various dates-a. Certified proofs
from LI. S. national bank note face plates: National Numismatic
Collections, Smithsonian Institution, Washington, DC.
Bureau of Engraving and Printing various dates-b, Correspondence to
and from the Bureau of Engraving and Printing: U. S. National Ar-
chives, Washington, DC.
Bureau of Engraving and Printing various dates-c, National hank note
face plate history ledgers: U. S. National Archives, Washington, DC.
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Paper Money Whole No. 171
Page 81
The Art and the Deal
10 G's for a Fiver
by LEONARD W. BOASBERG
Staff Writer, The Philadelphia Enquirer
Reprinted courtesy of The Philadelphia Enquirer
(Submitted by Bob Cochran)
f ■ ^ HERE'S $10,000 out there waiting to be exchanged for a
$5 bill. That's 10 grand for one fin, just waiting— it's
eight years now— for somebody to collect, no questions
asked.
The 10 G's are the reward for whoever returns or provides in-
formation leading to the return of the painting of a $5 bill-
titled, aptly, Five Dollar Bill, by the 19th-century American artist
William Harnett. The painting vanished from its frame in the
American wing on the first floor of the Philadelphia Museum
of Art sometime between 6:30 p.m., Saturday, Dec. 15, 1984,
and 9 the next morning.
'There's a plum tree waiting to be shaken," says William F.
Smith, whose New York City firm represents underwriters that
insure the fine arts.
The underwriters offered the reward a week after the theft. A
year later, they paid the An Museum the $100,000 the painting
had been insured for, but the reward, according to Smith, still
stands.
As for the museum, "we would return the money happily"
to the insurance companies if the painting were returned, says
museum president Robert Montgomery Scott.
The museum would also happily keep confidential the iden-
tity of the returner, or whoever gives information leading to the
thief.
"If you telephone me and tell me that you've found the $5 in
a trash basket on 16th and Market Street, I'll go to 16th and
Market and pick it up, with no questions asked," Scott said.
The thief would have trouble collecting the reward unless he
could come up with a pretty good explanation. But if his con-
science is bothering him, or if he'd just like to get rid of the
thing— and he can't sell it, since anybody in the art world would
know it was stolen— all he has to do is phone the museum and
tell it were to find the painting.
The number to call is 215-785-5495.
An informant could call the same number, or call the FBI —
215-829-2700 — and be assured of confidentiality.
The person who dropped the dime on Stephen Shih, who at
gunpoint stole Auguste Rodin's Mask of the Man With the Broken
Nose from the Rodin Museum on the Parkway in 1988, col-
lected the $10,000 reward, and his or her identity has never
been revealed, according to FBI Special Agent Robert Bazin.
Eight years after the theft, the FBI has no leads on the missing
$5 bill.
The oil-on-canvas painting, only 12 inches by 8 inches, mint
green on a dark background, was done in 1877 in the then-
popular trompe I'oeil style, of which the Irish-born,
Philadelphia-reared Harnett was the leading American practi-
tioner.
Trompe I'oeil is French for "fool the eye," and the $5 was so
trompeur that in 1886 the Secret Service arrested painter Harnett
on suspicion of counterfeiting.
It seems that for years the Secret Service had been looking for
an elusive counterfeiter, who had been turning out $100 bills of
extraordinary artistic merit— painting rather than printing
them. After an investigation, the Secret Service concluded Har-
nett was not their man and let him go, with a warning to cease
and desist from painting currency. |NOTF.: It's almost a sure bet
that the “elusive counterfeiter" referred to was Emanuel Ninger,
whose "artwork" was so good that he successfully passed coun-
terfeit notes of various designs and denominations for at least
15 years, maybe longer. Ninger was captured in March 1896,
when one of his "notes" was handled by a saloon employee
whose hands were wet, causing the ink to run. After his identity
was known, Ninger was referred to as "Jim the Penman." For
more information about this fascinating story, see articles by
Brent Hughes in PAPER MONEY and Bank Note Reporter .]
The Art Museum has two other Harnett paintings— one
called Still Life ofTen-Cent Bill, also known as The Shinplaster;
the other, Still Life With Writing Table. It got them and Five
Dollar Bill in 1943 from Mrs. Alex Simpson Jr. and A. Carson
Simpson.
Shortly after the theft, Samuel L. Evans, president of the
American Foundation for Negro Affairs in Philadelphia, also
offered a reward, of $5,000, for information leading to the ar-
rest and conviction of the thief. Suspicion had fallen on
members of a black professional fraternity. Sigma Pi Phi, who
had attended a party at the Art Museum the night the painting
may have vanished. W. Wilson Goode, then the mayor, and his
city managing director, Leo A. Brooks, were among the 120
guests.
Evans said he had offered the reward to clear the names of
the party guests. He withdrew the reward three years later, as-
suming, he said, that their names had been cleared, since no
suspect for the theft had been found.
| In a related article appearing in the December 27, 1992 edi-
tion of The Philadelphia Enquirer, Michael E. Ruane described
the activities of I.S.G. Boggs, who has been offering individual
hand-drawn copies of U.S. currency at "face" value in exchange
for goods and services. The "notes" have been widely accepted,
causing the Secret Service to take a special interest in his activi-
ties. On one of his "notes," Boggs added a touch of irony— the
signature of "W. Michael Harnett" as "Treasurer of Art."]
|Thanks to Harry Forman for bringing this article to our
attention.]
Page 82
Paper Money Whole No. 1 71
How I Got Started
by BOB BOLDUC
Y interest in numismatics began around the age of
eight. As with many young collectors, my father also
collected, which is how I got started. 1 wanted to col-
lect coins and most dealers I spoke to were only interested in
dealing with the investor with the deep pockets. My interest
soon faded and I had no collecting interests for a number of
years. I then became employed by Riggs National Bank of
Washington, DC and that was the start of something new.
I soon had the honor of meeting Mike Zier, who was the
bank archivist. Mike, who is not a dealer but a collector, saw my
interest in paper money and was willing to show and tell
everything he knew about the Riggs collection. He was
instrumental in putting this collection together for the bank,
and his vast amount of information was enough to rekindle
my interest. I then discovered that the bank I was currently
working for had issued their own currency ... I was hooked.
1 continued to learn as much as I could about grading and
rarity before I started spending my hard-earned cash. 1 was
going to be in contact with a new group of dealers since
collecting coins. Paper money dealers seem to be a different
group of people. I've met dealers from all over the country and
most of them seem to have an honest interest in helping me
continue my collecting goals. Some of these dealers have sent
me bank notes on approval out of the blue— that's correct, I had
no idea they were coming in the mail. This tells me the dealer
is an honest and sincere person looking out for my interest.
1 would rank my current collection of Washington DC
national bank notes as in the top five. I was not in the
collecting world when the Liedman collection went on the
auction block in the mid '80s, but do use the catalog as a
comparison. Today I even own a few of the notes from the
Liedman collection.
1 have had to do some fancy financing in some cases to
afford that special DC national, but 1 feel that is part of the fun.
I will have to say that in some instances dealers were willing to
work out a payment plan. One of the pieces of which 1 am
proud is a Riggs National Bank (5046) $5 Value Back. At the
time it was only the second one known, with the other note
being in the Riggs collection. Since then another one has
surfaced, so it is not as special as it used to be. 1 also own a
German American National Bank (2358) $1 First Charter. This
is only the second note known from this bank, with the other
note in the collection of Riggs National Bank. The Hickman
auction in Memphis a number of years ago included the
discovery note for the National City Bank (7936)— yes, I am the
proud owner of this note also. My collection includes many
Red Seals and Brown Backs. I expected these notes to be much
tougher to get considering the ease of redeeming notes in the
Washington, DC area.
What 1 have discovered is that collecting paper currency
requires plenty of patience. Other people still get the same joy
out of collecting that I currently do and want the thrill of
owning a rare note just as much as I do. As )ohn Hickman told
me— you're young, be patient, the notes will appear in time.
Because my ability to obtain new material for my collection
seems to be dwindling I've started doing something new. I am
currently trying to record all the information about existing
Washington DC national bank notes. This includes the
following information:
1) Bank name— banks changed their name but kept the same
charter number
2) Charter Number
3) Denomination
4) Serial Numbers
5) Block Letter
6) Signature combinations (President & Cashier) if readable
7) Condition
Please send information or a copy of your note to:
Bob Bolduc
9350F Snowden River Pkwy
Suite 238
Columbia, MD 21045
THE UNITED STATES TREASURY
by RAPHAEL ELLEN BOGEN
I N the last half of the nineteenth century, the Treasury
Department prepared a very limited selection of spe-
cimen books for distribution to dignitaries and politi-
cal figures. There were two categories: Specimens of Fractional
Currency and Bureau of Engraving and Printing Portraits and Vi-
gnettes. They were elegantly bound and superb presentation
items.
Martin Gengerke, in his article "History of the Fractional
Currency Presentation Books," describes its history and indi-
cates that only 14 copies of the fractional currency books are
presently known. The number of copies of Treasury specimen
books that have survived is currently unknown. When one is
found and added to the syngraphists collection, it becomes a
rare and veritable treasure.
Paper Money Whole No. 171
Page 83
In addition to its great historical significance, the book pro-
vides several intriguing corollary assets:
a. Each book is a "one-of-a-kind" item with different vig-
nettes and portraits. Some volumes open widthwise and
some lengthwise.
b. A significant number of large-size federal currency is high
denomination and either exceedingly rare or virtually un-
obtainable. Printed photographs of these bills do not do
justice to the remarkable and exquisite engravings, but
the specimens in the book are examples of proof perfec-
tion in the intaglio printing technique.
c. Each volume has a significant representation of the skill
and artistry of many extraordinary engravers of the
period.
d. Most of the engravings are either titled, captioned or
dated, providing specific information regarding the ar-
tist's interpretation and wishes.
e. Often the original engravings are cropped or trimmed to
fit the currency design. The specimens in the book are the
full and untouched original work as envisioned by the
artist.
The volume of specimens described in detail in this article is
full leather bound and hand-tooled. There are four raised
bands with gilt devices and flourishes on the spine and covers.
There are gilt designs on the inner edges of the covers. The page
edges are heavily gilted on all sides. There are five panels on the
spines with gilt decorations. The second panel has the fol-
lowing gold inscription: "Vignettes/and/Portraits." All pages are
card stock and are interleaved with white bond paper. The
volume I have measures 9%"x7%"x2V4" and was assembled
circa 1875. It was lot number 2634 in the Memphis Interna-
tional Sale (lune 23-24, 1989) conducted by R.M. Smythe &
Co., Inc. The estimate was $750 and up; it sold for $1,705.
PAGINATION SEQUENCE
Item Leaves
Cover-Front 1
Blank 2
Frontispiece 1
Title Page 1
Embossed Rendition 1
Portraits 68
Vignettes 59
(Bond Interleaves 130)
Blank 4
Cover-Back 1
Total Leaves: 268
ENGRAVER PRODUCTION
Enqraver No.
Items
Charles Burt
21
Alfred Sealey
6
Charles Schlecht
6
Alfred Jones
3
Joseph P. Ourdan
3
James Smillie
3
G.F.C. Smillie
2
Charles Skinner
2
William Chorlton
2
Marcus Baldwin
2
George D. Baldwin
2
Luigi Delnoce
2
Henry Gugler
2
W.W. Rice
2
Owen G. Hanks
1
Lorenzo Hatch
1
Charles Smith
1
S.A. Schoff
_1
TOTAL ITEMS
62
TOTAL ENGRAVERS:
18
PORTRAIT OR VIGNETTE IN VOLUME AND FINANCIAL INSTRUMENT
DENOM-
ENGRAVER/
NAMES - TITLES - DATES
NUMBERS
I NAT I ON
YEAR
PAINTER Or DESIGNER
PORTRAITS
• Washington/Early Profile as Roman
Laureate
—
— — —
Charles Burt/
Charles Burt
• U.S. Grant/ (Ulysses S.) (Early)
—
—
1871
/Charles Burt
(Pres. 1869-1877)
• Washington (George) (Pres. 1789-1797)
FR. 18
$1
1869
• J.Q. Adams (John Quincey) (Pres. 1825-
1829)
FR. 184
$500
1869
Alfred Sealey
Charles Burt
• John Adams (Pres. 1797-1801)
—
—
—
• Van Buren (Martin) (Pres. 1837-1841)
—
—
—
_____
• Madison (James) (Pres. 1809-1817)
FR. 188
$5,000
1878
—
• Harrison (Benjamin) (Pres. 1889-1893)
FR. 587
$5
1902
Alfred Sealey
• Zachary Taylor (Pres. 1849-1850)
H. X-164
$20,000
1871
G.F.C. Smillie
• Andrew Jackson (Pres. 1829-1837)
FR. 64
$5
1869
Alfred Sealey
• Pierce (Franklin) (Pres. 1853-1857)
—
—
—
/Thomas Sully
• Lincoln (Abraham) (Pres. 1861-1865)
FR. 168
$100
1869
Charles Burt/
• Lincoln (in oval) with Agriculture &
Commerce
— —
“ “
” ”
Anthony Berger
• Washington (3/4 length — hand on book)
FR. 193
$100
1863
Owen G. Hanks/
• John Marshall/Chief Justice/ 1804
FR. 372
$20
1890
Lansdowne
Charles Schlecht/
• Albert Gallatin/Secretary-Treas . 1802-
1814
FR. 183
$500
1862
Henry Inman
Alfred Jones
• William H. Crawford/Secretary-Treas.
1817-1825
FR. 1380
$ .50
1869
Charles Burt/John
• James Guthrie/ Secretary-Treas . 1853
—
—
—
W. Jarvis
• S.P. Chase (Salmon) /Secretary-Treas.
1864
FR. 16
$1
1862
Joseph P. Ourdan
• Levi Woodbury/ Secretary . Treas . 1834
—
—
—
• William M. Meredith (Secretary-Treas.
1849-1850)
FR. 1264
$ .10
1874
Charles Burt
• Hon. Hugh McCulloch (Secretary-Treas.
1884-1885)
FR. 639
$20
1902
Alfred Sealey/
• Hamilton (Alexander) (Secretary-Treas.
1789-1795)
FR. 1
$5
1861
O. Smith
Joseph P. Ourdan
• Frederick A. Sawyer
• W.P. Fesseden (William) (Secretary-
Treas. 1864)
• William A. Richardson/Secretary-Treas .
1873)
• George S. Boutwell/Secretary-Treas . 1869
• Prof. Morse (Samuel F.B.) (Inventor)
• John A. Rawlins/Secretary-War 1869
• Rufus King (U.S. Senator 1789-96, 1813-
1825)
• DeWitt Clinton (Gov. N.Y., Mayor N.Y.,
Senator)
• Franklin (Benjamin) (Statesman - B.1706,
D. 1790)
• Fulton (Robert) (Inventor)
• Henry Clay (Secretary-State 1825-1829)
• Decatur (Stephen) (Captain-Navy, War of
1812)
• R.J. Walker (Robert) (Secretary-Treas ,
1845-1849)
• Samuel Dexter (Secretary-War & Treas. ,
1800-1801)
• Silas Wright (U.S. Senator 1845-1847)
• Ma j . General Mansfield (Joseph K.)
(Battle of 1862)
• Thomas H. Benton (Senator & Represen-
tative)
• (No Name) General Winfield Scott (Head
of Army 1841-1848, 1855-1861)
• Thomas Ewing/Roman Profile
• Amos Kendall
• Edward Everett/Secretary-State 1852
• Douglas (Stephen)
• Burlingame
• John J. Cisco
• Hamilton Fish/Secretary-State 1869
• Andrew (John A.)
• William H. Seward (Secretary-State 1860-
1869)
• Admiral D.G. Farragut (David) (First
Admiral of Navy)
• Stanton (Edwin M.) (Secretary-War 1862-*)
_
__
___
FR.
1291
$ .25
1869
Charles Skinner
-
—
—
—
—
_
FR.
247
$2
1896
Charles Schlecht
-
—
—
—
—
H. NE-14
$5
1873
Charles Burt
FR.
186
$1,000
1869
Charles Burt/
C.O. Ingham
FR.
152
$50
1874
Charles Burt/
James B. Longacre
FR.
247
$2
1896
Charles Burt/
Benjamin West
FR.
151
$50
1869
Alfred Sealey
FR.
305
$20
1878
Charles Schlecht
FR.
1308
$ .25
1874
Charles Burt
FR.
1379
$ . 50
1869
Charles Burt/George
Casilear
FR.
1188
$50
1882
Charles Burt/Alonzo
Chappell
FR.
185
$500
1874
Charles Burt
FR.
1166
$100
1863
Charles Burt
FR.
212
$100
1865
George D. Baldwin
-
—
—
—
—
-
—
—
—
—
FR.
323
$50
1878
Charles Schlecht
H. X-169
$1000
1870
Charles Burt
—
—
—
—
-
—
—
—
—
—
—
—
—
—
H. X-159
$10,000
1871
—
FR.
376
$50
1891
Charles Schlecht
FR
377
$100
1890
Charles Schlecht
FR. 347
$1
1890
Charles Burt
• Oliver Wolcott
• A. E. Borie
• George M. Robison/Secretary-Navy 1869
• J.K. Barnes/ Surgeon General U.S. Army
• Belknap
• E.D. Baker
• General Thomas (George H.) (Union Army
Hero)
• George H. Williams/Attorney General 1872
• Charles Lub . . .? (Written signature)
• Dix
• Thad Stevens
• E.B. Washburne
• (No name) Unknown
• John A. J. Creswell/Postmaster General
1869
• Danl Webster (Daniel) (Secretary-State
1841, 1850-52)
• C. Delano/ Secretary-Interior 1870
H. X-164
H. X-171
FR. 359
$5,000
$5
1871
1872
1890
Charles Burt
Lorenzo Hatch
H. X— 166 $10,000 1878
FR. 96
$10 1869 Alfred Sealey
VIGNETTES
• Woman (Unknown)
• America
• (Eagle/on shield/Capitol)
• (Eagle/Flags/Shield)
• Capitol
• (The U.S. Capitol Back)
• U.S. Treasury
• The Patent Office
• The White House
• Smithsonian Institute
• (Building - Unknown)
• Eagle of the Capitol
• Eagles Nest
Columbus (in study)
Columbus (Discovery of Land)
(Discovery of Mississippi by DeSoto)
Pochahontas at Court
• American Indian
FR. 152
FR. 188
FR. 1166
FR. 644
H. X-150
FR. 190
H. 1341
FR. 186
FR. 19
H. X-138
FR. 96
H. X— 13 2
$50
$5,000
$100
$20
1874
1878
1863
1902
Charles Burt
William Chorlton
Charles Skinner
Marcus W. Baldwin
$10
$500
$ 1,000
$1
$ 1,000
$10
1863
1863
1869
1874
1863
1869
1862
G.F.C. Smillie
James D. Smillie &
Louis Delnoce/
Gilbert Stuart
Henry Gugler
Joseph P. Ourdan/
Charles Schussele
W.W. Rice/T.A.
Liebler
Page 86 Paper Money Whole No. 171
The Eagle
Eagle (Flag and Staff)
Harvesting
(Soldiers on Horse in Battle)
Seaman (with Anchor)
Liberty and Union
Eagle (Ocean Telegraph)
Return of Peace
(Maiden Gathers Wheat)
Columbia (Holding Shield)
Liberty
The Pioneer
Altar of Liberty
Valley Forge
The Guardian
Seeding and Ginning
Victory
Sewing
In the Turret
Justice (Shield)
Loyalty
Reconstruction
Victory
Law and Peace
The Smokers
Caduceus
Justice
Justice (Scales & Sword)
The Standard Bearer
Soldier (Rests on Gun by Cannon)
Agriculture and Mechanics
Mercury (Child Seated)
Mortar Firing
Eagle (Lightening-Ships)
Launching through the Surf
Iroquois (Battleship)
The Naval Engagement
(Mississippi Paddleboat)
(Ships in the Harbor)
New Ironsides
(Paddleboat Steamer)
FR. 188
$5,000
1878
FR. 1215
$500
1882
H. X-150
$1,000
1865
H. X-138
$500
1863
FR. 1178
$20
1882
FR. 151
$50
1869
FR. 190
$10
1864
FR. 127
$20
1869
H. X-177
$1,000
1862
FR. 64
$5
1869
H. 1435
—
1861
FR. 199
$100
1863
FR. 191
$20
1864
FR. 204
$100
1864
FR. 203
$50
1863
FR. 203
$50
1863
FR. 168
$100
1869
FR. 185
$500
1874
H. X-132
$50
1862
FR. 203
$50
1863
FR. 184
$500
1869
FR. 211
$5,000
1861
H. X-40
$500
1863
H. X-149
$1,000
1865
FR. 204
$100
1864
FR. 191
$20
1864
H. X-142
$1,000
1863
H. X-140
$500
1863
William Chorlton
Charles Burt
George D. Baldwin
Charles Smith
Alfred Jones/
John W. Casilear
Henry Gugler
Charles Burt
James Smillie
Charles Burt
W.W. Rice/
Alfred Jones
Louis Delnoce
Charles Burt
Alfred Jones/John
W. Casilear
S . A . Schoff
George D. Baldwin
James Smillie
James Smillie
Page 88
Paper Money Whole No. 171
The first section of pages are as follows:
1. Frontispiece: Large vignette of a weeping Indian Brave seated
on a log overlooking a windmill and horse, with many fac-
tories in the background billowing smoke and fumes from
the numerous smokestacks.
2. Title Page: Fully engraved with the following inscription:
U.S.
TREASURY DEPARTMENT
Treasury
Seal
SPECIMENS.
BUREAU OF
ENGRAVING AND PRINTING
WASHINGTON
George B. McCartee 1 George W. Casiiear
Chief of Bureau Superintendent of Eng's vc.
3. Portrait: B.H. Bristow, Secretary of the Treasury
4. Stylized portrait in Roman profile, of man facing left, in
multiple geometric frames. Printed in red.
5. The collection of portraits and vignettes as described below
follow the order of the book's page sequence.
Although 1 personally prefer Gene Hessler's outstanding work,
The Comprehensive Catalogue of U.S. Paper Money, the FR.
numbers listed refer to Robert Friedberg's Paper Money of the
United States. Virtually all dealers and collectors use that num-
bering system.
There are, however, many notes which could only be found
in Gene Hessler’s trilogy and they are identified as:
H-X: An Illustrated Histoty of U.S. Loans
H-NE: U.S. Essay, Proof and Specimen Notes
H-: The Comprehensive Catalogue of U.S. Paper Money
Sometimes there are many notes that bear the same vignette.
Only one has been selected for the example. Following the en-
graver's name there are occasionally noted either the artist,
designer or photographer of the illustration, where known.
The following are "thumbnail biographies" of the talented
and often prolific engravers represented in the book:
Charles Kennedy Burt
Born in Scotland in 1823. Came to New York in 1836. Was em-
ployed for a time by A.L. Dick of New York where he etched a
number of portraits and book illustrations. Later work was
bank note engraving. For some years was the chief engraver for
the Treasury Department in Washington, D.C. Several of his
larger plates were made for the American Art LInion in 1851
and 1852. He died in Brooklyn, New York in 1892.
Alfred Sealey
Born in New York in 1815. Was a fine line engraver who devoted
himself to bank note work in later life. Active in New York City
Paper Mone y Whole No. 171
Page 89
from 1838 to 1868. Was with own firm, Sealey and Smith,
1858-60. Worked for American Bank Note Co. after 1860. Did
some good fine line illustrations for Cooper's novels. Also
some sculpture signed “Sealey & Smith."
Charles Schlecht
Born in Stuttgart, Germany in 1843. Brought to the U.S. by
parents in 1852. Was apprenticed to American Bank Note Co.
in 1859. Received instruction in his profession from Charles
Burt and Alfred Jones. Bank note engraving was principal occu-
pation. Worked in New York City and Bureau of Engraving and
Printing in Washington. Also did some admirable portrait and
subject plates for publishers.
Joseph Prosper Ourdan
Born in New York on February 16, 1828. Was apprenticed as en-
graver to W.L. Ormsby of New York. Did some work for book
publishers. Started the firm of Packard and Ourdan producing
portraits in mezzotint. Became interested in bank note en-
graving and was in the employ of the Continental and Na-
tional Bank Note companies of New York and American Bank
Note Co. of Philadelphia. Died in Washington, D.C. May
10, 1881.
James D. Smillie
Born in Edinburgh, Scotland on November 23, 1807. Worked
in his father's and brother's jewelry business as the engraver.
Went to London in 1827 to study engraving. Moved to New
York in 1829 where he engraved a series of plates for the New
York Mirror from 1832 to 1836. From 1861 until his death on
December 4, 1885 he devoted himself solely to bank note en-
graving.
George Frederick C. Smillie
Born November 23, 1854. Was the principal engraver at the Bu-
reau of Engraving and Printing from 1894 to 1922. A pupil of
the National Academy of Design and his uncle lames Smillie at
the American Bank Note Co.
Charles Skinner
An excellent bank note engraver in the employ of American
Bank Note Co. and was working in New York at least as early as
1867. He also did several portraits for book publishers.
Lorenzo Hatch
Was employed as a bank note engraver by the Treasury Depart-
ment in Washington, D.C. about 1875.
George D. Baldwin
A native of Connecticut, he was born about 1818. Studied por-
traiture in Norwich. Painted many portraits of prominent men
from his state.
W.W. Rice
Engraver of portraits and subject plates as a member of the firm
of Rawdon, Wright, Hatch & Co. of New York in 1846. He was
an engraver over his own name as late as 1860.
Charles H. Smith
During the years of 1855 to 1860, a capital line engraver of por-
traits and book illustrations, working in Philadelphia and New
York.
Owen G. Hanks
Bom at Troy, New York in 1838. Studied engraving and worked
at Rawdon, Wright and Hatch in New York. Employed primari-
ly by that bank note company. He died circa 1865.
Stephen Alonzo Schoff
Born lanuary 16, 1818 in Danville, Vermont. At age 8 his
parents moved to Bradford and later Newburyport, Mas-
sachusetts. He was one of six children and when 16 was sent to
Boston, indentured for five years to Oliver Pelton, an engraver
in that city. Dissatisfied with his progress, with Pelton's ap-
proval, he became a pupil of Joseph Andrews, a line engraver.
He went with Andrews to Paris in 1840 and both worked in the
studio of Paul Delaroche drawing from nudes. He returned to
the United States in 1842 and was sought out by a bank note
engraving company in New York. He died on May 6, 1904 in
Norfolk, Connecticut.
Marcus W. Baldwin
Born March 31, 1853 in Livingston, New Jersey. Was an appren-
tice under Louis Delnoce and Alfred Jones at the American and
National Bank Note companies. He formed his own company,
"Baldwin, Gleason & Co.," and did private engraving until 1891.
He then joined the Bureau of Engraving and Printing in Wash-
ington. He died in New York City on July 15, 1925.
William Chorlton
Born at Manchester, England on March 20, 1847. He came to
the United States about 1852. At age 16 he was engraving for
the National Bank Note Co. under the supervision of Alfred
and James Smillie. He joined the Bureau of Engraving and
Printing about 1872. He died in 1874.
Luigi (I,ouis) Delnoce
Born in Italy in 1822. Studied engraving with (ohn W. Casilear.
Worked as a book illustrator from 1855 to 1860. He engraved
for many bank note companies and the Bureau of Engraving
and Printing. Died in Bronx, New York in 1880.
Alfred Jones
Born at Liverpool, England on April 7, 1819. He served as an ap-
prentice with Rawdon, Wright, Hatch and Edson in Albany,
New York, starting ca. 1834. Studied at the National Academy
of Design in New York City and in Europe. Worked as engraver
for several bank note companies. In 1866 he became the presi-
dent of the United States Bank Note Co. He also served as su-
perintendent of the Picture Department at American Bank
Note Co.
Continued on page 98
Page 90
Paper Money Whole No. 171
The
Starts Here
A Primer for Collectors
these national bank notes were backed by federal government
bonds they were accepted anywhere as they circulated along-
by GENE HESSLER
This smull-size $5 note was issued by the National Tradesmens Bank and
Trust Company of Netv Haven. Tile portrait of Abraham Lincoln was en-
graved by Charles Burt.
£>'n&*rr7f ■ j. /, n . i tt r>"; > HCTT-SJ
A * — f.
0 C’lI.lNlb
I> XV'fl i ,>A,i 1 S V>K
of Tin: ,
Litir /'/>//:', /'///
This third charier, third issue large-size $5 note was issued by the Chase National Bank in New York City. The portrait of
Benjamin Harrison was engraved by G.F.C. Smillie.
7H ATIONAL bank notes, each with a story to tell, are un-
doubtedly the most popular collectible pieces of U.S.
paper money. Each issue is unique due to the imprint
of the name of the issuing national bank. These colorful pieces
of American history were issued as both large- and small-size
notes. And, in denominations of $5, $10 and $20, the most
common examples are available for $50 or less. Some $5 notes
are priced around $25.
In 1863 the National Bank Act authorized participating char-
tered banks to issue uniform currency up to 90 percent of the
value of United States bonds which the bank had deposited with
the United States Treasury. A subsequent act in 1865 placed a 10
percent tax on all state bank notes in circulation. This tax gave
state banks the choice of paying the tax or joining the National
Banking system. By 1866 there were no state-issuing banks. How-
ever, the notes they had issued are referred to as obsolete bank
notes and are also popular collectible items.
Participating national banks were chartered for periods of 20
years, and there were three charter periods. The notes of each
charter period are recognizable by the different or modified de-
signs. The third charter period included three separate issues,
the least expensive types to collect. These are distinguished by
the color of the seal: first issue red, second and third issue blue,
and only the second issue has "1902-1908" on the back. Since
side the United States (legal tender) notes, silver and gold certi-
ficates, treasury (coin) notes and Federal Reserve notes.
There must have been a considerable amount of pride and a
feeling of security to see the name of your bank on the currency
that circulated in your community. However, since paper
money travels, one also received national bank notes from
banks in neighboring communities as well as banks that were
thousands of miles away.
Each of the 50 states issued national bank notes as a state or
territory; some were issued by both. In addition, Puerto Rico
also issued national bank notes. As you might imagine, large-
size notes, and in some instances small-size notes, issued in
sparsely populated locations like Alaska, Idaho, Hawaii, New
Mexico, Oklahoma, Vermont and Wyoming are scarce or rare.
A bank in a large city might have been in existence for only
a short time. Consequently, the note-issue could have been
small. A bank in a small community, for whatever reason,
might have issued a large number of notes. However, national
bank notes from approximately 20-25 states are affordable.
By perusing a dealer's advertisements or looking through his
or her stock of notes, you should find a large-size or small-size
note, maybe both, from your state, your hometown, and, if you
Continued on page 102
Paper Money Whole No. 171
Page 91
A Curious
South Carolina Note Imprint
by BENNY BOLIN
During the 1993 Memphis International Paper
Money Show, I was able to add some intriguing
new South Carolina obsolete bank notes to my col-
lection. They were issued by the Bank of the State
of South Carolina, and each had a curious stamp
(fig. 1) on the back. As I researched the stamp, I
found a story spanning two continents, lasting for
over 35 years and involving appeals all the way to
the United States Supreme Court.
HE story begins with a major fire that struck the city of
Charleston on the evening of Saturday, April 27, 1838. It
destroyed much of the business district and over 1,000
homes, leaving 5,000-7,000 people without shelter. Damage
was estimated to be around $3 million, with less than half
being insured. The governor called a special session of the
legislature that passed the Act for Rebuilding the City of
Charleston or Fire Loan Act on June 1, 1838. The Act directed
the Bank of the State of South Carolina to issue up to $2 mil-
lion in bonds or other contracts, to secure a loan on the credit
of the state to aid in rebuilding the city. Once borrowed, this
money would be deposited in the bank and loaned to people
of Charleston to rebuild. To get a loan to rebuild, potential
borrowers had to submit, among other things, an affidavit that
they would rebuild only in brick or stone and would use no
combustible materials in their roofs. The bank decided to issue
bonds one-half payable in twenty years and the rest payable in
thirty years with an interest rate not to exceed six percent.
The president of the bank, Charles Colcock appointed
former South Carolina Governor George McDuffie as agent of
the bank in charge of selling the bonds. Because he was unable
to sell them above par in New York, he went to England to try
the European market. He sold £232,500 sterling (stg) at five
percent interest. The amount of £214,000 stg was sold to Baring
Brothers and Company and the other £15,500 stg to private in-
dividuals. The unsold bonds were cancelled and a six percent
State Stock was substituted and sold primarily to people in
South Carolina.
The Bank of the State of South Carolina had been operating
since its charter on August 9, 1813 and was said by many to
have been one of the most profitable and stable financial insti-
tutions in the south before the Civil War. However, like all but
one of the banks in South Carolina, it failed after the war.
On December 21, 1865 the South Carolina legislature passed
the Act to Raise Supplies for the Year, which included a clause
that dosed all the banks' branches and required the main
branch at Charleston to stop issuing notes, and only operate as
a bank of deposit. The bank was closed for good on September
15, 1868. Section eleven of the Act of 1865 stated that the assets
of the bank were to be used first, to pay the principal and in-
terest due on the Fire Loan Bonds payable in Europe, second,
to redeem the Fire Ix>an Stocks payable in the United States
and third for redemption of outstanding notes and other debts
of the bank.
On October 30, 1867, before the fire loan stocks and thirty-
year bonds could be redeemed (£109,000 stg were still held by
Baring Bros, and were not due until 1868), Dabney, Morgan
and Company, through their attorneys, Messrs. Magrath and
Lowndes, filed suit in the Chancery Court of the First Instance
of the State for the Charleston District against the president
and directors of the bank. They contended that since the bank
was insolvent, all its assets should be used to pay the bill-
holders before the other creditors, or to at least treat them the
same as the other creditors. They further contended that the
Fire Loan Stock and Bond holders were not creditors of the
bank, but of the state. Finally, they argued that section eleven
of the Act of 1865 was unconstitutional and void because it im-
paired the obligations of the billholders with the bank and vio-
lated the Bankruptcy Act of 1867.
The president and directors of the bank, represented by
Hayne and Son, in their answer filed on February 3, 1868, con-
tended that the billholders were not preferred creditors. They
felt that Dabney, Morgan and Co. had bought the notes in their
possession at a discount purely on speculation of redeeming
them at full face value when they were fully aware that the bank
was insolvent.
Baring Brothers and Co., in their answer filed at the U.S.
Consul in London on May 7, 1868, stated that they had sold
many bonds "under the direction and for the benefit of the
Bank of the State of South Carolina" and that they were, even to
that day, acting as "agents in London of the Bank in South
Carolina." They stated that they had continued to pay the in-
Page 92
Paper Money Whole No. 171
teresi due on the bonds with the last payment being in January
1868, continuing to do so even during the war and "the
blockade of the southern ports." Baring Brothers held £26,000
stg bonds of the Louisville, Cincinnati and Charleston Railroad
Company that, with the £5,200 stg interest due added, and
when redeemed at the market rate of 42 percent, was not nearly
sufficient to satisfy the £109,000 stg debt. They felt that since
these were the only funds of the state or the bank within their
control and since they had always acted in good faith, they had,
"under the circumstances, a special claim as creditors of the
Bank as a corporation and upon the assets of the same, as well
as on the state itself'
On March 3, 1868 the Court of Equity issued four orders: 1.
making the South Carolina Attorney General a party defendant
for sustaining the validity of the Act of 1865; 2. making Baring
Brothers and Company defendants on behalf of the fire loan
sterling bondholders; 3. making A.V. Dawson, et al. defendants
on behalf of the fire loan stockholders; and 4. requiring the ref-
eree of the court, lames W. Gray, Esq., to call in by June 1, 1868,
through newspaper advertisements (figure 2) in the cities of
Charleston, Cincinnati, New Orleans, New York and Augusta,
all people claiming to be creditors of the bank because of
holding bills or notes of the bank or holding fire loan stocks or
bonds. These were then stamped as shown in figure 1, proving
that they were legitimate debts of the bank.
THE STATE OF SOUTH CAROLINA--
CHARLESTON DISTRICT --DABNEY MORGAN
& CO., vs. THE PRESIDENT AND DIRECTORS OF
THE BANK OF THE STATE OF SOUTH CAROLINA-
IN EQUITY. --Upon hearing the Bill and Answer in
this case, it is ordered:
That said Master call in any person or
persons claiming to be creditors holding Bills
or Notes of the Corporation to make proof
of their claims on or before the first day of
June next ensuing
Figure 2
On April 22, 1869 all the banks' assets were transferred to a
receiver, William C. Courtney. The bank officers objected be-
cause they felt that they could liquidate the affairs of the bank
in a more efficient and cheaper manner, and they were prob-
ably correct. Receiver Courtney was removed for an unknown
reason and replaced by W.I. Gayer, who was replaced by C.C.
Puffer, who was then replaced by C.H. Simonton. Shortly after
Mr. Simonton was appointed, an audit showed that the other
receivers had amassed fees of $135,790.81, proof that the affairs
of the defunct bank were drawn into the corruption of the
reconstruction regime.
The case was first heard in late May 1870 in Charleston by
Judge J. Carpenter. He ruled that billholders lacked legal claim
to being preferred creditors. He also ruled that the Act of 1838,
pledging funds to the redemption of the Fire Loan bonds and
stock, was valid and that their holders held preference over
other creditors, including billholders. He also ailed that since
the act did not specify how the funds were to be raised, only the
amount to be raised, that the stock and bond holders should
be treated without preference over each other.
Dabney, Morgan and Company appealed the decision to the
South Carolina Supreme Court on the grounds that the Act of
1865 was unconstitutional and therefore void. Baring Brothers
and Company also appealed because they felt that the Fire
Loan Bondholders should be given preference over the Fire
I xian Stockholders.
The South Carolina Supreme Court heard the case during its
1871 term. Justice C.J. Moses wrote and delivered the opinion
of the court on December 2, 1871, with Justices A.J. Willard and
A.J. Wright concurring. They ruled that the Act of 1838 required
a separate account be set up for the profits from the sale of the
Fire Loan stocks and bonds and this money be used for their
redemption. But, as Cashier Thomas Waring testified, this was
not done, so no record was ever made specifying these profits.
They also ruled that since the bank was insolvent, meaning that
it could not meet its obligations, there were no profits to give.
The court also ruled that since the state guaranteed the stocks
and bonds and since they were payable at the state treasury,
their holders contract was with the state and not with the bank.
They did rule that after all other creditors were paid, any excess
assets could be applied to the redemption of the stocks and
bonds. Finally, they ruled that the billholders were entitled to
the full value of their notes, despite their purchase date or
price. The court ordered that the portion of the circuit decree
that gave preference to the Fire Loan bond and stockholders, be
set aside. It also ordered the assets of the bank held for distribu-
tion among all creditors, in ratable proportion to the amount
of their debts.
Baring Brothers and Company again appealed, this time to
the United States Supreme Court. Barings vs. Dabney was heard
by the court in its October 1873 term. I.W. Hayne and W.W.
Bryce represented Baring Brothers and D.H. Chamberlain
represented Dabney, Morgan and Company. Justice Joseph P.
Bradley wrote and delivered the opinion that was concurred
with by Justices Samuel F. Miller, David Davis and William
Strong. They found that the Fire Loan Stocks were clearly not a
debt of the bank, but of the state. They also found that since the
Fire Loan Bonds were not due for three years after the bank be-
came insolvent and since no interest was in arrears, the bank
could not be held liable for this debt. They ruled that it was the
duty of the state, not the bank, to prevent this "future" liability.
Therefore, they AFFIRMED the decree of the South Carolina
Supreme Court.
About the bonds themselves, the research done makes mul-
tiple references to the twenty year bonds being £500 stg and the
thirty year being £1000 stg. But, on examination of the bonds
themselves, and after checking multiple resources on Southern
states bonds, it appears that the twenty-year bonds actually is-
sued were £250 stg and the thirty-year bonds £500 stg. No
reference or example of a £1,000 stg bond was found.
Anyone with any further information on this topic is urged
to contact the author at Route One, Box 331B, Allen, Texas
75002.
CORRECTIONS TO NO. 170
The previous issue of PAPER MONEY should have had a cap-
tion that described the illustration on the lower right of page
44 as a counterfeit.
The Sl’MC Awards on page 60 will take place in Memphis in
1994.
Paper Mone)’ Whole No. 171
Page 93
The Magnificent
CONFEDERATE
MONTGOMERY NOTES
by BRENT HUGHES
I j, . OST paper money collectors conduct a never-ending
l\/l search for choice notes to add to their albums but
I Y few ever hit the "mother lode" as I did in 1952 in
Washington, DC.
It came about when a newspaper reporter and photographer
attended a meeting of the Washington Numismatic Society,
which at that time met in the Smithsonian Museum of Natural
History. A photograph of me with my exhibit of Confederate
money appeared in the Sunday edition, along with an article
about local collectors.
An elderly reader saw the article and called the president of
the Society asking him to help her dispose of a "large hoard" of
Confederate notes. She was scheduled for surgery, she said, and
wanted to pay her own way.
The president asked me to go with him because I was sup-
posed to be an expert on rebel paper money. When we arrived
at the woman's home we were admitted by her daughter who
told us that her mother was already in the attic where the col-
lection was stored in two large suitcases. We walked up the
stairs where we were greeted by a gracious seventy-five year old
woman standing next to two open suitcases, each filled with
row upon row of thick, white envelopes.
The lady explained how the material came to be in her attic.
Her father had gone to work at the U.S. Treasury Building in
1875, she said, where he had become fascinated with the
Department's collection of Confederate financial papers. At
that time, rebel paper money had little or no value and
Treasury employees who expressed interest were often told to
take a few notes home if they wished.
In my ignorance I knew nothing of the history of the "Rebel
Archives Bureau" within the Union War Department under
Secretary Edwin Stanton. In fact, it was not until 1972 that I
read Dr. Douglas Ball's 17-page foreword to the Quarterman
Publications' reprint of the Register of the Confederate Debt and
learned the full story of this bit of history.
Secretary Stanton believed that lefferson Davis had been in-
volved in the assassination of President Lincoln and, in the
search for proof, had ordered Union officers to ship four hun-
dred and ninety boxes and barrels of captured Confederate
documents from Richmond to Washington. When nothing
was found to incriminate Davis, Stanton lost interest and the
government found itself more or less stuck with the mountain
of paper that included a half million Confederate notes and
bonds.
Around the 1870s the U.S. Treasury Department began
receiving claims from Southern unionists who alleged that
they had suffered financial losses during the Civil War which
they now expected the U.S. government to repay. The Treasury
officials would have no part of this and wanted to search the
rebel archives for proof that the claimants had voluntarily pur-
chased rebel bonds. If such proof could be found, the govern-
ment could suggest that such claimants might be indicted for
treason. Under these circumstances the claimants might lose
their enthusiasm to press their claims and quietly disappear.
At the Treasury's request, the archives were transferred from
the War Department in 1881 and were not returned until 1888.
In the intervening years the Adjutant General's chief clerk,
Raphael Thian, had made a detailed study of the Confederate
material. He hoped to publish several books on the subject but
managed to print only one, his Register of the Confederate Debt.
Those collectors who wish a full account of Thian's activities
are advised to read Dr. Ball's foreword.
Getting back to my attic adventure, I should explain that in
1952 a person could buy an 1864 Confederate $10 or $20 bill
for fifty cents. Dealers had boxes of them and could easily
replenish their stock for ten to twenty cents each. As a result,
collectors generally ignored the common issues and concen-
trated on the scarce and rare 1861 issues. 1 should add that this
was about the extent of my knowledge of Confederate notes at
that time. Now I wonder if the woman's father ever met
Raphael Thian and what their conversations might have been.
In any event, the Treasury Department must have retained at
least part of the financial documents received from the War
Department. According to the woman's statements, her father
was called into his supervisor's office around 1894 and was told
that theTreasury Department was cleaning house to gain office
space and file cabinets, so the "rebel junk" had to go.
"My father was told that if he wanted the notes, he could
have them, but he had to get them out that day or they would
be burned. Daddy went to a nearby livery stable and rented a
horse and buggy, backed it up to a door on Fifteenth Street and
loaded these suitcases and several small boxes into it. He then
drove the buggy home, put the items in his study and returned
the rig to the stable. I inherited all his possessions when he
died in 1932."
1 assumed that most of the notes in the suitcases were the
1864 issue. 1 was able to examine the contents of only a few
envelopes and noted the written inscriptions on perhaps fifty.
All listed the dates "1863" and "1864."
My friend and I closed the suitcases and gently inquired
what she was asking for the hoard. "Last year I saw notes like
these in the window of a Georgetown shop for seventy-five
cents each, so 1 want fifty cents each."
"Do you know how many notes there are?" I asked.
'Yes, 1 counted them once. There are at least 15,000 of them,
perhaps a few more."
My friend and 1 looked at each other. I knew that $7,500 was
far beyond both our budgets, so buying the hoard was out of
Page 94
Paper Money Whole No. 171
the question. (In 1955 my wife and I bought a nice home in a
Washington suburb for $15,750.)
As we were about to leave, I asked the woman if she had any-
thing else in Confederate money. "Yes," she replied, "I have this
album which Daddy said contains a complete set." She opened
a drawer in a small table nearby and pulled out what I later
learned was a Raphael Thian album. According to Dr. Ball, one
of Thian's duties was to assemble scrapbooks and albums of
Confederate notes to be presented to retiring Civil War
generals and other officials.
I opened the cover and saw the inscription, "Presented to
General upon his retirement from the United States
Army, May 31, 1884." Something must have happened to cancel
the presentation ceremony because the album was still at
Treasury ten years later.
A full account of the Montgomery notes is found in Douglas
Ball's book, Financial Failure and Confederate Defeat (University
of Illinois Press, 1954). The following is a brief account.
The Confederate Congress authorized the issue of $1 million
of the 3.65% interest-bearing notes on March 9, 1861. Since
New York City was the center of bank note engraving and
printing at that time, it was logical that Treasury Secretary
Christopher Memminger would contact someone there to
place his order. That person was fellow-banker Gazaway Bugg
Lamar, vice president of the Bank of the Republic in New York
City, (lust two months later, in May 1861, Lamar would return
to the South to become president of the Bank of Commerce in
Savannah, Georgia.)
It appears that in the confusion of setting up his new depart-
ment, Memminger failed to specify the denominations of the
“ Montgomery note," $1000, lohn C. Calhoun, left; Andrew Jackson, right. Black and green. Serial number 95 of a total issue
of 607 notes. Written date: May 28, 186 1. Slabaugh Type 4 ; Bradbeer-Criswell T)'pe 3; Chase Type 1 04.
1 turned the page and saw the first Montgomery note 1 had
ever seen: the $1000 note. It was at least extremely fine and
even in the low light of the attic the green ink seemed to glow.
Like the rest of the bills, it was held in place on the album page
by two loops of sewing thread which just missed the top and
bottom edges of the note.
"I think I'll keep the album," the woman said, "at least for
now."
'Then perhaps I might come back some time when it's con-
venient and examine it more closely," I said. 'These notes are
rare and 1 doubt if I will ever see any others."
She smiled and told me she would let me know. 1 left my
name and telephone number and we departed.
The president of our Society arranged for a New York dealer
to fly down and purchase the hoard but the woman did keep
her album. In later years I often wondered what became of it.
In 1978 I was startled to receive a telephone call from the
woman's daughter. Her mother had passed away years before
and she and her husband had inherited the album. Now they
hoped to sell it to finance a trip to China which had just
opened its borders to tourists. It had taken me twenty-six years
but I finally was able to buy the treasure 1 had dreamed of
owning.
I never tired of looking at the Montgomery notes. Beautifully
engraved and printed on fine paper, the notes are simply su-
perb examples of bank note an. Never intended for circulation,
they bore interest and ordinarily would have been held in
vaults until redeemed, in the chaos of the Civil War, however,
they did circulate until some were almost worn out.
notes. The enabling act stated only that none of the notes could
be of less than $50, so Lamar apparently selected the other
denominations— $100, $500 and $1,000. He placed the order
with the National Bank Note Company in New York, which en-
graved a plate to print a four-note sheet of one of each denomi-
nation. The 607 sheets were delivered to Montgomery on April
2, 1861, just ten days before the Civil War began.
Memminger immediately realized that the demand would
be for the smaller denominations so he contacted Lamar again,
asking him to have the bank note company furnish an addi-
tional one thousand each of the $50 and $100 notes. The com-
pany split their plate and ran off 999 half-sheets to fill the
order, but the beginning of hostilities made delivery difficult.
Complicating the problem was a disgruntled businessman
named Waterman Lily Ormsby, head of the New York Bank
Note Company. In the recent reorganization of the bank note
industry, Ormsby had been shut out of both the National Bank
Note Company and the American Bank Note Company. In
retaliation, Ormsby tipped off the Union government that Na-
tional was printing Confederate currency.
The story as narrated by Dr. Bail is that a group of U.S. Mar-
shals showed up at the National Bank Note Company with
orders to confiscate the Rebel plates. When they learned that
the 999 half-sheets had been loaded on a ship in New York
harbor, they raced to the dock. Fortunately for the South, the
ship had just cast off and the captain ignored shouted orders to
return. Unable to contact the forts in the outer harbor by tele-
graph at that time, the marshals could only watch in frustration
as the ship headed for international waters. The cargo eventu-
Spp e
/// >// 1 ■ //////// A .
/r/7//z/rrZ/
If.IlIiiniWIiJI M'lijr i tipu iilijr MSW
Paper Money Whole No. 171
Page 95
"Montgomery note," $50, Three Slaves in Cotton Field. Black and green. Serial manlier 968 of a total issue of 1,606 notes
Written date: May 16, 1861. Slabaugh Type 1; Bradbeer-Criswell Type 4: Chase Type 101.
•Montgomery note," $100, Railroad Train at Station, Columbia left. Black and green. Serial number 890 of a total issue of
1,606 notes. Written date: May 14, 1861. Slabaugh Type 2: Bradbeer-Criswell Type 3; Chase Type 102.
TYV COMPANY
Page 96 Paper Money Whole No. 171
CONFEDERATE "MONTGOMERY NOTES" WRITTEN DATES FOR INTEREST PURPOSES
Date:
$50
Slabaugh Type 1
Bradbeer-Criswell
Type 4
$100
Slabaugh Type 2
Bradbeer-Criswell
Type 3
$500
Slabaugh Type 3
Bradbeer-Criswell
Type 2
$1,000
Slabaugh Type 4
Bradbeer-Criswell
Type 1
Serial
From
Numbers
To
April 5. 1861 . . .
. . i . .
. . 5 . .
. . i . .
. . 19
April 8, 1861 . . .
. . 6 . .
. . 101 .
. . 20 .
. . 101 .
. . 1 . .
. . 14
April 9, 1861 . . .
. 102 .
. 161 .
. 102 .
. 156 . .
. . 15 .
. .19
April 25. 1861 . . .
. 162 .
. 261 .
. 157 .
. 261 . .
. . 20 .
. .54 . .
. . 1 . .
. . 17
May 1, 1861 . . .
. . 55 .
. 86 . .
. . 18 .
. . 29
May 2. 1861 . . .
. 262 .
. 265
May 3. 1861 . . .
. 266 .
. 465 . .
. 262 . .
. 561
May 4, 1861 ....
466 .
. 809 . .
. 562 . .
. 809 . .
. . 87 .
. 122
May 14. 1861 . . .
. 810 .
. 959 . .
. 810 . .
. 984
May 16, 1861 . . .
. 960 .
. 1253 .
. 985 .
. 1237 .
. . 123 .
. . 131
May 20, 1861 . . .
. 1254 .
. 1256
May 21. 1861 . . .
. 1257 .
. 1259 .
. 1238
May 22, 1861 . . .
. 1260 .
. 1436 .
. 1239
. 1450 .
. . 132 .
. 171 .
. 30 . .
. . 39
May 23, 1861 . . .
. 1437 .
. 1586 .
. 1451 .
. 1545 .
. . 172 .
. 211 .
. 40 . .
. . 69
May 25, 1861 . . .
. 1548 .
. 1560
May 28, 1861 . . .
. . 70 .
. . 369
June 11, 1861 . . .
. . 1561
. 1570
June 17. 1861 . . . .
. 212 . .
. . 231 .
. 370 . .
. 403
June 18, 1861 . . . .
. 232 . .
. .290 . .
. 404 . .
. 462
June 19. 1861 . . . .
. 1587 .
. 1590 .
. . 1571
. 1573 .
. 291 . .
. .305 . .
. 463 . .
. 477
June 20, 1861 . . . .
. 1591 .
. 1592
June 21, 1861 . . . .
. 1593 .
. 1606 .
. 1574 .
. 1606 .
. . 306 .
. 331
June 22, 1861 . . . .
. . 332 .
. 333
June 24, 1861 . . . .
. . 334 .
. 473 . .
. 478 . .
. 607
June 28, 1861 . . . .
. . 474 .
. 537
July 8, 1861 ....
. . 538 .
. 540
July 18, 1861 . . . .
. . 541 .
. 576
♦July 23, 1861 . . . .
. . 577 .
. 607
* Some notes in this group were signed by C. T. Jones as Acting Register with another date
after his signature which was probably the date of issue for interest purposes.
- CONFEDERATE MONTGOMERY NOTES -
Serial Numbers of Notes Believed to Exist in 1993
$50 - Three Workers in Cotton Field, black and green, total issue: 1,606.
Slabaugh Type 1, Bradbeer -Criswell Type 4, Chase Type 101
7, 63, 88. 93, 113, 121, 148, 163, 177, 179,
271, 276, 287, 288. 310, 311, 315, 327, 330,
431, 434, 447, 448, 676, 678, 685, 696, 730,
847, 862, 868, 870, 873, 876, 881, 882, 888,
924, 925, 929, 943, 945, 955, 965, 967, 968,
1079, 1084, 1085, 1094, 1095, 1126, 1128,
1207, 1208, 1209, 1211, 1234, 1241, 1266,
1333, 1334, 1335, 1350, 1365, 1367, 1372,
1481, 1546, 1561, 1574, 1576.
Total:
188, 202, 213, 228, 242, 243, 247, 248, 251,
342, 358, 373, 388, 393, 394, 407, 411, 424,
818, 819, 820, 826, 834, 840, 842, 845, 846,
890, 894, 895, 901, 916, 920, 921, 922, 923,
983, 993, 995, 997, 1005, 1026, 1039, 1067,
1130,
1136,
1139,
1142,
1147,
1173,
1191,
1273,
1283,
1304,
1309,
1311,
1315,
1321,
1397,
1399,
1432,
1439,
1441,
1465,
1473,
137.
$100 - Railroad Train at Station, Columbia at left, black and green, total issue: 1,606.
Slabaugh Type 2, Bradbeer-Criswell Type 3, Chase Type 102
6, 12, 44. 49, 110, 124, 215, 242, 264, 269, 284, 297, 314, 319, 386, 397, 400, 408, 491,
508, 530, 532, 536, 553, 567, 602, 662, 708, 716, 729, 776, 779, 813, 814, 815, 822, 830,
831, 834, 838, 851, 858, 859, 861, 862, 863, 864, 886, 887, 888, 889, 890, 913, 916, 917,
918, 943, 948, 985, 987, 1001, 1006, 1010, 1014, 1015, 1016, 1019, 1023, 1025, 1026,
1049, 1066, 1067, 1076, 1081, 1088, 1091, 1095, 1098, 1102, 1117, 1139, 1140, 1141,
1142, 1143, 1144, 1147, 1149, 1150, 1168, 1189, 1201, 1202, 1203, 1216, 1228, 1229,
1235, 1236, 1237, 1240, 1249, 1264, 1266, 1278, 1279, 1285, 1286, 1287, 1337, 1338,
1342, 1343, 1344, 1346, 1367, 1376, 1378, 1379, 1380, 1381, 1382, 1397, 1402, 1429,
1441, 1452, 1461, 1474, 1478, 1488, 1492, 1508, 1537, 1547, 1550, 1602.
Total: 138.
$500 - Cattle in Brook Under Railroad Bridge, black and green, total issue: 607.
Slabaugh Type 3, Bradbeer-Criswell Type 2, Chase Type 103
4, 7, 20, 22, 25, 41. 57, 59, 66, 68, 71, 72, 73, 77, 85. 107, 120, 123, 128, 129, 139,
141, 143, 144, 146, 147, 149, 150, 166, 167, 169, 176, 185, 195, 198, 201, 209, 210, 229,
233, 253, 258, 267, 269, 278, 283, 286, 288, 289, 290, 293, 310, 322, 332, 335, 341, 343,
345, 354, 380, 388, 402, 406, 410, 417, 418, 419, 422, 424, 425, 427, 431, 433, 434, 435,
449, 456, 497, 498, 509, 514, 517, 520, 536, 543, 545, 567, 568, 569, 576, 583, 593, 597,
603, 604.
Total: 95.
$1,000 - J. C. Calhoun, left; Andrew Jackson, right; black and green, total issue: 607.
Slabaugh Type 4, Bradbeer-Criswell Type 1, Chase Type 104
12, 15, 29, 33, 34, 38, 42, 44, 45, 46, 48, 52, 53, 54, 55, 56, 57, 58, 59, 61, 65, 66. 82,
84, 85, 86, 87, 88, 89, 95, 99, 100, 102, 104, 145, 152, 166, 175, 176, 212, 219, 225,
229, 231, 242, 244, 258, 261, 266, 267, 276, 278, 279, 292, 296, 297, 302, 304, 306, 312,
314, 315, 316, 319, 320, 321, 322, 323, 324, 326, 327, 331, 332, 335, 338, 344, 365, 368.
371, 372, 392, 410, 416, 420, 428, 441, 449, 451, 453, 467, 473, 490, 494, 504, 511, 515,
521, 538, 555, 556, 558, 563, 564, 580, 593, 594, 595.
Total: 107.
Page 98
Paper Money Whole No. 171
ally reached a Southern port and the half-sheets were delivered
to the Confederate Treasury Department.
Thus, in aggregate, there were 1,606 each of the $50 and $100
Montgomery notes and 607 each of the $500 and $1,000, repre-
senting a total value of $1,151,000.
During the first week of May 1861, Memminger announced
that Union authorities had seized the plates. The loss of the
New York printing facilities was a crushing blow to the Secre-
tary, who now had to seek currency contractors within the Con-
federacy itself, a search that would prove to be extremely
difficult.
Today's collectors are fortunate that Raphael Thian pub-
lished in his register a chart showing the date that was written
on each of the 4,426 Montgomery notes. I had previously as-
sumed that all of the notes were personally signed by Alex-
ander B. Clitherall, Register, and Edward C. Elmore, Treasurer,
but Dr. Ball, Hugh Shull and Arnold Cowan pointed out that
the Register's Chief Clerk, Charles T. Jones, signed a few Mont-
gomery notes after Clitherall resigned on July 24, 1861.
Mr. Cowan supplied a photocopy of a $500 note, serial
number 604, bearing the Jones signature. The note is dated July
23, 1861, a Tuesday, but Jones wrote in "July 27," the following
Saturday, after his signature. The latter date presumably be-
came the date of issue for interest purposes.
Charles T. Jones was one of several men who held respon-
sible jobs in the U.S. Treasury Department prior to the Civil
War. Jones was the Assistant Register of the U.S. Treasury
Department from 1857 to 1861 under Howell Cobb. Jones and
others resigned and volunteered to serve in the Confederate
Treasury Department where they performed well.
When Jones came South, he had the foresight to bring with
him "copies of all the forms in use in all of the several bureaus"
of the U.S. Treasury Department. In his book Confederate Fi-
nance, Dr. Richard Cecil Todd quotes Memminger's Chief
Clerk, Henry Capers, as saying that the Confederate Treasury
was more "indebted to the willing spirit and indefatigable
labors of Mr. Jones than to any other single individual for the
rapid and perfect organization of the department in all of its
details." Therefore it seems appropriate that Charles T. Jones
was allowed to sign a few notes as substitute for Clitherall. The
notes are all the $500 denomination and fall in the serial
number range from 584 through 607.
I have always been curious about how many Montgomery
notes survived the war and may still be around today. Dr. Ball
also had this interest and published his listing in 1978. At that
time I combined his list of serial numbers with mine and have
since searched out records which have appeared in books and
catalogs going back to about 1916. I recently updated my list
with serial numbers supplied by Hugh Shull, Arnold Cowan,
Grover Criswell and Dennis Forgue. The combined list, which
appears with this article, should be a reasonable guess as to the
number of surviving Montgomery notes.
Obviously it is difficult to compile such a list because notes
are continually being destroyed by fire, flood and other
hazards. We all know that in today's society it is not prudent to
publicize the fact that one owns anything of value because
thousands of criminals are eager to steal it. Many notes are
stolen and never surface again. I disposed of my album for that
very reason. Many collectors retain their Montgomery notes
without telling anyone, so the serial numbers of such notes
may or may not be in our list. It all depends on where, when
and how the owner acquired his notes.
I have reason to believe that there are several sets of Mont-
gomery notes in undiscovered albums. Some families retain
such items from one generation to the next, remembering only
that their ancestors received them for some achievement or
service to the government. On a bookshelf, these albums
resemble ordinary books and can easily escape notice, espe-
cially in old homes where personal libraries may not be dis-
turbed for many years.
As far as our list of serial numbers is concerned, I can only
state that I believe the notes survived the war and have since
been photographed, examined or recorded by reputable
authors, collectors and dealers. If readers know of a Mont-
gomery note with a serial number not listed, they are asked to
advise the editor. Only the number will be recorded and pub-
lished later.
I am still searching for Confederate notes. Who knows where
the next Thian album might turn up? But I don't really expect
to see another hoard like the one I saw in 1952. A lot of col-
lectors have entered the field since that time, several collections
have been donated to museums or historical societies and the
supply of notes is constantly shrinking. Nevertheless, it is a lot
of fun to keep looking.
SPECIMEN BOOKS Continued from page 82
Henry Gugler
Born in Germany in 1816. Came to the United States in 1853
and started to engrave for bank note companies. He became
one of the first engravers at the Bureau of Engraving and
Printing on January 15, 1863. He died in 1880.
1 Mr. McCartee was the second chief of the Bureau from March 1869 to
February 1876.
Bibliography
Fielding, M. Dictionary of American painters, sculptors and engravers.
Friedberg, R. Paper money of the United States.
Hessler, G. The comprehensive catalogue of U.S. paper money.
U.S. essay, proof and specimen notes.
An illustrated history of U.S. loans, 1775-1898.
Limpert, N. United States paper money, old series.
U.S. Treasury Dept.: History of the Bureau of Engraving and Printing,
1862-1962.
WORLD PAPER MONEY
* BUY, SELL, TRADE *
* FREE PRICE LIST *
specialized in Poland,
Russia and East Europe
Tom Sluszkiewicz
P.O. Box 54521, 7398 Edmonds St.
BURNABY, B.C., CANADA, V3N 1A8
Paper Money Whole No. 171
Page 99
Catalog of Enveloped Postage
by MILTON R. FRIEDBF.RG
(Continued from No. 170, page 54)
Catalog Number
Paper
Ink
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Printer
Printer’s Address
Printer's City
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Flap Printed
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Flap Advertisement
Pedigree
77
WHITE
BLUE
EACLE ON FRONT
U.S. POSTAGE STAMPS
I. LEACH
86 NASSAU ST
N.Y.
(NY)
50
CENTS.
50 CENTS.
YES
J. LEACH, 86 Nassau St. N.Y.
WRITING PAPER, ENVELOPES AND BLANK
BOOKS, CHEAP
MRF, KF, MTG
Catalog Number
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78
WHITE
DARK BLUE
EACLE ON FRONT
U.S. POSTACE STAMPS
J. LEACH
86 NASSAU ST
N.Y.
(NY)
50
CENTS.
50 CENTS.
YES
). LEACH, 86 Nassau St. N.Y.
WRITING PAPER, ENVELOPES AND BLANK
BOOKS, CHEAP
MRF, DKH
Catalog Number
Paper
Ink
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79
WHITE
RED
EAGLE ON FRONT
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). LEACH
86 NASSAU ST
N.Y.
(NY)
50
CENTS.
50 CENTS.
YES
). LEACH, 86 Nassau St. N.Y.
WRITING PAPER, ENVELOPES AND BLANK
BOOKS, CHEAP
MRF
Catalog Number 79A
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U.S. POSTAGE STAMPS
BELIEVED TO BE H. SMITH
137 WILLIAM ST.
N.Y.
(NY)
50
NONE
50
YES
LEACH
Writing Paper, Envelopes and/Blank Books/
86 NASSAU STREET/NEW YORK
MRF
Catalog Number
Paper
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80
CREAM (LIGHTTAN) 75x45mm
BUCK
U.S. POSIACE/75 CIS /STAMPS WAVY LINE
BORDER
D.W. LEE
Stationer
82 Nassau St.,N.Y.
N.Y.
(NY)
75
75 CTS.
MISSING FUP AND BACK
KK X-MOREAU
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81
WHITE
BUCK
PILL ENVELOPE USED FOR CHANGE?
HENRY W. LINCOLN
APOTHECARY
CHESTNUT AND CHARLES
BOSTON
(MASS)
30 (Mss)
CENTS (Mss)
30 CENTS (All Mss)
NO
MRF
MACOY & HERWIG,
STATIONERS AND PRINTERS,
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25 Cts.
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City
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MISSING
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MISSING)
Catalog Number
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Paper
PINK (LT. PURPLE) 67*34mm, 54mi
flap
ink
BUCK
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U.S. Postage Stamps.
Used By
HY. MAILLARD'S
Advertising Message
CONFECTIONERY AND SALOON,
Address
621 BROADWAY
City
(NYC)
State
(NY)
Printer
T.R. DAWLEY,
Printer's Address
Reade and Centre Sts.
Printer's City
N.Y.
Printer's State
(NY)
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20
Word Value
Cents.
Value Message
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Flap Printed
YES
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T.R. DAWLEY, Reade and Centre Sts.
Flap Advertisement
Manufact'r,
Pedigree
RW X-MOREAU
Catalog Number
84
Paper
PINK 67x34mm, 54mm incl. flap
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BUCK
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Used By
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CONFECTIONERY AND SALOON,
Address
621 BROADWAY
City
(NYC)
State
(NY)
Printer
T.R. DAWLEY,
Printer's Address
Reade and Centre Sts.
Printer's City
N.Y.
Printer's State
(NY)
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25
Word Value
Cents.
Value Message
25 Cents.
Flap Printed
YES
Flap Message
T.R. DAWLEY, Reade and Centre Sts., N.Y.
Flap Advertisement
Manufact'r,
Pedigree
RW X-SEEMAN LOT 1353, MOREAU
Catalog Number
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PINK
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Used By
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Address
621 BROADWAY
City
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State
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Printer
T.R. DAWLEY,
Printer's Address
Reade and Centre Sts.
Printer's City
N.Y.
Printer's State
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50
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Cents.
Value Message
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Flap Printed
(POSTUUTED— SEE 25c ABOVE) YES?
Flap Message
T.R. DAWLEY, Reade and Centre Sts., N.Y.
Flap Advertisement
Manufact'r,
Pedigree
RW X-SEEMAN LOT 1353 (FUP MISSING)
Catalog Number 86
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Value Message U.S.STAMPS 10 CENTS in shield
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Value Message U.S.STAMPS 25 CENTS in shield
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M. & E.S. CHAPIN, -PROPRIETORS
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Value Message
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NO
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DF
Catalog Number
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Paper
CREAM 63x37mm
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City
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crs.
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Dinner & Supper.
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City
NEW YORK
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BROWN (MAN1LU)
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State
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Numerical Value
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crs.
Value Message
io crs.
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KF, COLE (LOT 4130)
1
MILIjER &, GRANT,
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703 BBOABWAT, NEW YCTtK.
U. 8. POSTAGE STAMPS.
i 25
Catalog Number
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NEW YORK
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TROWBRIDGE
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BEIGE
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Word Value
CENTS.
Value Message
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NO
Pedigree
RW X-SEF.MAN LOT 1353
Catalog Number
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Paper
WHITE 2 1/4 Sq
Ink
BUCK
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U.S. POSTAGE STAMPS ENCLOSED IN
LIGHT ORNATE BORDER
Printer
Wm. MURPHY
Printer's Address
438 CANAL ST.
Printer's City
New York
Printer's State
(NY)
Numerical Value
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Word Value
Cts. S.
Value Message
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Flap Printed
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Flap Message
MADE BY Wm MURPHY, 438 CANAL
New York.
Pedigree
MTG
Catalog Number
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Paper
CREAM (CREAM) 67x33mm
Ink
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Commentary
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Page 102
Paper Money Whole No. 171
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State
Numerical Value
Word Value
Value Message
Flap Printed
Pedigree
Catalog Number
Paper
Ink
Commentary
Used By
Numerical Value
Value Message
Flap Printed
Pedigree
Catalog Number
Paper
Ink
Commentary
Used By
Numerical Value
Value Message
Flap Printed
Pedigree
Stationer
Catalog Number
101
372 Peari-st.
Paper
WHITE
(NYC)
Ink
BLACK
(NY)
Commentary
U.S. POSTAGE STAMPS.
□.Murphy's Son, Printer
Used By
N.Y. CENTRAL R.R. CO.
65 Fulton Street
Numerical Value
25
N.Y.
Value Message
25 Cts.
(NY)
Flap Printed
NO
50
50 cts.
Pedigree
DF
MISSING FLAP AND BACK
Catalog Number
102
KK X-MOREAU
Paper
WHITE
Ink
BLACK
97
Commentary
U.S. POSTAGE STAMPS.
Used By
N.Y. CENTRAL R.R. CO.
Numerical Value
50
Value Message
50 Cts.
U.S. POSTAGE STAMPS
NO
Flap Printed
NATIONAL EXPRESS COMPANY
TROY, ALBANY, NORTHERN NY,
VERMONT, +
Pedigree
DF
74 BROADWAY
Catalog Number
103
NEW YORK
Paper
CREAM 69*43mm
(NY)
25
Ink
BLACK
Commentary
U.S. STAMPS
CTS.
25 CTS.
Used By
NEW BOWERY THEATRE, Sole Proprietor,
).W LINGARD.
7
Numerical Value
25
DROWNE
Word Value
CENTS.
Value Message
25 CENTS.
Flap Printed
MISSING
98
Pedigree
RW X-MOREAU (BACK AND FLAP
WHITE (YELLOW-ORANGE) 74* 37mm
MISSING)
BLACK
U.S. POSTAGE STAMPS.
N.Y. Consolidated Stage Co
(NYC)
(NY)
50
Cents.
50 Cents.
NO
MRF, RW X-MOREAU (BACK AND FLAP
MISSING)
99
TURQUOISE
BLACK
U.S. POSTAGE STAMPS
N.Y.C.R.R.
20
20 CTS.
SLOT FOR STAMP
KRAUSE 93-20. COLE (LOT 4131)
100
WHITE
BLACK
U.S. POSTAGE STAMPS.
N.Y. CENTRAL R.R. CO.
10
10 Cts.
NO
DF
BUCK Continued from page 90
are determined, a bank that once operated or continues to
function where you now live. You will also see some interesting
national bank titles from the First National Banks of: Walla
Walla, Washington; Sleepy Eye, Minnesota; Weeping Water,
Nebraska; Cherry Tree, Pennsylvania; and, among others, the
Indian Head National Bank in Nashua, New Hampshire. These
colorful titles are in demand and often command big prices.
Most non-collectors, and many who are collectors, are not
aware of the fascinating national bank note period in the
United States from 1863 to 1933. These notes were individually
signed by the president and cashier of the bank. By examining
the signatures you might find that a relative or relative of a
friend signed the note you have.
You might discover that one or two national bank notes do
not satisfy you— great collections are started with that first pur-
chase. However, if you only want one or two examples, $25 or
$50 dollars is not much to pay for a tangible piece of banking
history, especially if it relates to you personally.
(Copyright story reprinted by permission from Coin World, June 28,
1993)
Paper Mone y Whole No. 171
Page 103
Those Color Overprints
by FORREST W. DANIEL
HE color overprints of value, called protectors, which
appeared on both sides of many state bank notes in the
1850s were intended to prevent alteration to raise the
value of the bills. The distinctive quality of the overprint is the
perfect register of the mirror image of those letters on the back
of the bill which, usually, was otherwise blank. Bank note
printers were aware that counterfeiting could not be prevented,
but the addition of color on both sides provided another chal-
lenge to the forger's art. Little consideration has been given the
backwards printing on the back of the notes, but it was essen-
tial to the success of the process.
Augustus Applegarth (or Applegath), a printer, and Edward
Cowper, both inventors, developed the process of printing
both sides of a sheet in perfect register while trying to design a
counterfeit-proof bank note for the Bank of England. Late in
1817, Applegarth suggested that color stereotypes of relief en-
fect register. When colors were used, the sheet was carried by
microscopically adjustable tapes to another set of printing
rollers where the process was repeated in the desired color.
Face, back and colors were printed in a single pass through the
multiple-unit press.
The use of color overprints on American bank notes did not
require the use of an accurately-tuned press to produce the
effect; any single-color press could reproduce the effect on a
sheet of bank notes. The spot printing could be done by either
lithograph or surface printing methods; the colors were not in-
tegrated into the bank note designs as they were in the English
process.
When over-all color designs were added to the backs of bills
in the late 1850s and 1860s, the practice of spot overprinting
was discontinued, although there are cases where offset color
impressions appear over regular back designs.
gravings by "a first rate artist," since they were white on black,
would be difficult to reproduce by a copperplate engraver.
SOURCES:
Applegarth and Cowper were engaged to develop the process.
In February 1819 color specimens of their work were sub-
mitted to the Royal Commission for Prevention of Forgery,
which had been established to select the best method to pre-
vent the forgery of bank notes; the samples were favorably
received. In October the Applegarth and Cowper method was
chosen from more than a hundred proposals, including those
from Sir William Congreve, a member of the commission, and
American Jacob Perkins. Granted generous funds for ma-
chinery, they moved into bank premises and began their work,
insisting on strictest secrecy. The main design of their note was
black with interspersed patterns in one or more colors. The
back was an exact duplicate of the face in reversed image, and
in perfect register with the face design. Nothing like the note
had been seen before and there was much speculation about
how the effect was achieved.
Applegarth and Cowper produced and improved their notes
for more than two years while the bank's chief engraver, Wil-
liam Bawtree, played counterfeiter and imitated them by hand
engraving. The printers added colors to the design as their
notes were successively duplicated— up to five colors. In May
1821, an issue of £1 and £2 notes was discontinued when gold
became available for cash payments; and on September 13
Applegarth and Cowper were notified that Mr. Bawtree's suc-
cessful imitation of their latest effort brought the enterprise to
an end. The experiment had cost the Bank of England £40,000,
and left them with four million useless notes.
Applegarth and Cowper used stereotype plates produced by
Applegarth's inventive method. The notes were surface-printed
on an ordinary rotary printing press— it was the registration of
the design on the back which was unique. The secret of the
process was merely that a sheet of paper was fed into the press
only on every other revolution of the cylinder. The plate was
first printed on the leather impression roller and when the
sheet came through to be printed it picked up, on the back in
off-set, the wet ink from the backing roller. Since both sides of
the note were printed by the same impression, they were in per-
Harris, F..M. (1967). Sir William Congreve and his compound-plate
printing. Contributions from the Museum of History and Tech-
nology, Paper 71. Washington: Smithsonian Institution Press.
Kubler, G.A. (1927). A short history of stereotyping. New York: Certified
Dry Mat Corporation.
Mackenzie, A.D. ( 1953). The Bank of England note: a history of its printing.
Cambridge: The University Press.
Nobody pays more than Huntoon for
ARIZONA & WYOMING
state and territorial Nationals
V205926E
' 0) J • 'If P
X £ \vii«» vv, , h '\rof 6579
0/rSr *1 i ,mL
11184
Peter Huntoon
P.O. Box 3681
Laramie, WY 82071
(307) 742-2217
Page 104
Paper Money Whole No. 171
Notes
From
All Over
An Open Letter to Kenneth E. Bressett, Assistant Treasurer, ANA
and Author in The Numismatist :
In reference to your "Consumer Alert" #365, pp. 259-60, February
Numismatist: I did my own double-take, to borrow your phrase, when
I read your description of an article published in the Sep-
tember/October issue of PAPER MONEY (in your words "a neat journal
published by the Society of Paper Money Collectors . . . written for and
by collectors . . . highly respected in the hobby.") I reviewed the article
which you described as stating “how to con people into thinking you
have an outstanding collection of United States currency . . . buy sou-
venir cards issued by the BEP . . . cut notes out . . . mount fake bills in
a frame . . . where people will think they are real . . . Perhaps someone
will even buy framed fakes someday thinking they are genuine,"
knowing that such an idea would be in direct opposition to the ethics
and ideals held by the SPMC. You go on to say "At least that is the way
1 read it." You read WRONG. You have totally misconstrued the article,
which reads "the inherent pride of the syngraphist in his or her collec-
tion . . . demands a permanent display . . . not practical or advisable
because of security reasons, eventual discoloration, and deterioration
of valuable notes" The writer goes on to suggest securing duplicate sou-
venir cards from the BEP and cutting and framing your favorite notes
where they will "draw many comments from your delighted friends as
your 'collection' adorns the walls of your syngraphic den." A harmless
interesting article, well-written and well-meant.
Any paper money collector could immediately tell you why they
would not mistake these for genuine notes, but perhaps you should
take the Bureau of Engraving and Printing to task as well, considering
your premise? 1 am at a loss to understand your attitude. I feel that the
hobby is poorly served indeed when an ANA official snipes at a respect-
able and viable collector organization, without checking the in-
tent/content of the article with someone who has at least a working
knowledge of syngraphics. ludith Murphy
President
Society of Paper Money Collectors, Inc.
The preceding letter was sent by FAX to ANA headquarters on 2/17/94;
to this date (3/28/94) no one has acknowledged receipt of same. I be-
lieve that an insult has been offered to the author of the article (R.
Ellenbogen), the editor of PAPER MONEY, and to the Society of Paper
Money Collectors. After all, those no better informed about paper
money collecting than Ken Bressett seems to be, will only remember
the inference made. Please read the article in question. Let us and them
know if you agree that it may be time for the Colorado Springs contin-
gent to examine their statement of purpose, their raison d'etre. We in
the SPMC care passionately about the future of numismatics; we want
to see the ANA show that they parallel our concerns. Write letters! Be
involved. You gain when you show you care.
Looking forward to seeing you all in Memphis. Watch for schedule
of events in the numismatic press. ludith
money
mart
Paper Money will accept classified advertising trom members only on a basis ol
ISC per word, with a minimum charge of $3.75. The primary purpose of the ads
is to assist members in exchanging, buying, selling, or locating specialized mate-
rial and disposing of duplicates. Copy must be non commercial in nature. Copy
must be legibly printed or typed, accompanied by prepayment made payable to
the Society of Paper Money Collectors, and reach the Editor, Gene Hessler, P.O.
Box 8147. St. Louis. MO 63156 by the first of the month preceding the month of
issue (i.e. Dec. 1 for Jan./Feb issue). Word count: Name and address will count
as five words. /Ml other words and abbreviations, figure combinations and initials
count as separate. No check copies. 10% discount for four or more insertions of
the same copy. Sample ad and word count.
WANTED: CONFEDERATE FACSIMILES by Upham for cash or trade
for FRN block letters, $1 SC, U.S. obsolete, lohn W. Member, 000 Last
St., New York, N.Y. 10015.
(22 words: $2: SC; U.S.: FRN counted as one word each)
OLD STOCK CERTIFICATES! Catalog plus 3 beautiful certificates
$4.95. Also buy! Ken Frag, Box 531PM, Burlingame, Calif. 94011. Phone
(415) 566-6400. (182)
STOCK CERTIFICATE LIST SASE. Specials: 100 different $31; five lots
$130. 20 different railroad slocks, mostly picturing trains, $30; five lots
$125. Satisfaction guaranteed. Always buying. Clinton Hollins, Box
U2P, Springfield, VA 22150. (172)
WANTED: ADVERTISING BANKNOTES for dentists, veterinary,
chiropractors, patent medicines (not Morse's Pills). Facsimile or over-
printed notes. Interested in drugstore script. Ben Z. Swanson, lr„ 616
South Hanover Street, Baltimore, Maryland, 21230-3821. (173)
POIAND, RUSSIA, POW, BALTIC STATES, Germany, POW, Europe,
world banknotes. Buy, sell, trade. Free price list. Tom Sluszkiewicz, P.O.
Box 54521, 7398 Edmonds, Burnaby B.C., Canada V3N 1A8. (171)
OHIO NATIONALS WANTED. Send list of any you have. Also want
Lowell, Tyler, Ryan, Iordan, O'Neill. Lowell Yoder, P.O.B. 444, Holland,
OH 43528, 419-865-5115. (170)
STATE NOTES WANTED: New Jersey-Monmouth County obsolete
bank notes and scrip wanted by serious collector for research and exhi-
bition. Seeking issues from Freehold, Monmouth Bank, Middletown
Point, Howell Works, Keyport, Long Branch, and S. W. & W. A. Torrey-
Manchester. Also Ocean Grove National Bank and lersey Shore memo-
rabilia. N.B. Buckman, P.O. Box 608, Ocean Grove, N.|. 07756.
1-800-533-6163. (171)
JACK FISHER BUYING AND PAYING COLLECTOR PRICES for
Michigan First Charter Nationals, all Kalamazoo, Michigan notes.
Second and Third Charter $100 all States, 1935 Canada $500 and
$1,000. lack Fisher 3123 Bronson Boulevard, Kalamazoo, Ml 49008.
(172)
WANTED: NEW JERSEY NATIONAL BANK NOTES, LARGE &
SMALL, Blackwood, Cape May Court House, Clemenion, Lakehurst,
Laurel Springs, Mays Landing, New Egypt, North Merchantville,
Pedricktown, Penn's Grove, Port Norris, Seabright, Somers Point, Tuck-
ahoe, Vineland, Westville, Williamstown, other towns needed, doing
research. Send photocopy; price. Robert Kotcher, Box 110, East Orange,
NJ 07019. (173)
WANTED: PAPER MONEY FROM LEBANON, private collector is
looking to buy Lebanese paper money in any condition issued prior to
1960s. Please contact: M.H. Hussein, 6295 River Run Place, Orlando,
Florida 32807, FAX: (407) 859-8121. (173)
WANTED: Bank/Banking Histories, Bankers' Directories for personal
library. Will send my "want” list, or offer what you have. Bob Cochran,
Box 1085, Florissant, MO 63031. (173)
WANTED: Huntsville, Alabama— Nationals, Obsoletes, scrip, checks,
postcards, etc. Bob Cochran, Box 1085, Florissant, MO 63031. (173)
HELP! To finish a set: I need a 1929—1 $5 from #4178, Mercantile-
Commerce National Bank of St. Louis, Missouri. Bob Cochran, P.O.
Box 1085, Florissant, MO 63031. (173)
HELP! To finish a set: 1 need a 1929—1 $20 from #8765, Henderson Na-
tional Bank of Huntsville, Alabama. Bob Cochran, P.O. Box 1085,
Florissant, MO 63031. ( 173 )
COLLECTOR BUYING NATIONALS from Southwestern PA: Counties
of Allegheny, Fayette, Somerset, Washington and Westmoreland.
Charles Trenk, P.O. Box 241, Belle Vernon, PA 15012.
Paper Money Whole No. 171
Page 105
; **SWs
H llOT: « !
y ’ s ’/it/ /, *• //.. /(.
> h t/t Mil***/
aljLfiiiii- pulling;
NAME
ADDRESS
iliiji'.'Di'f ! nf
A small sampling of the many
important pieces we have
offered over the r ears.
i ) a j ill/' l7Ii* - K
Realize the best prices
for your paper money.
o with the world’s
most successful
auction company—
Auctions by Bowers and Merena,
Inc. When you consign your
collection or individual important
items, you go with a firm with an
unequaled record of success!
ver the years we
ha ve handled some
of the most important
paper ' money collections
ever to be sold.
hinking of selling your
collection or desirable
individual notes?
Right now we are accepting con-
signments for our next several New
York City and Los /Angeles sales, or
our annual Florida United Numisma-
tists sale. Your call to Dr. Richard
Bagg. Director of Auctions, at
1-800-458-4646 will bring complete
information concerning how you
can realize the best price for your
currency, in a transaction which
you, like thousands of others, will
find to be profitable and enjoyable.
hat we hcwe done
for others, we can do
foryou.
Telephone Dr. Richard Bagg
today, or use the coupon pro-
vided. Father way, it may be the
most profitable move you have
ever made!
D PM 5/6-94
ear Rick Bagg:
Please tell me how I can include my paper
money in an upcoming auction. I understand
that all information will he kept confidential.
STATE ZIP
I 'nt considering selling. Please contact me
BRIEF DESCRIPTION OF HOLDINGS
DAYTIME TELEPHONE NLMBFR
.Along the way our auctions
have garnered numerous price
records for our consignors.
Indeed, many of our sales
establish new price records
on an ongoing basis.
Auctions by Bowers and Merena, Inc,
Box 1224 • Wolfeboro, NH 03894
Toll-free: 1-800-458-4646/ In NH: 1-603-569-5095
Fax: 1-603-569-5319
t tommes mm:
V///
D70990^
Hii&J*/*, /Z ///S////Z
D70990 r c>
;<. . fiiJJ JjiAJ 3a-^gg^ , 3B’ l gS^K^
/ ""' /,r '" 'fy' N929443!?'
ntsmti/UlnitriY tihC '^jg
ftVKl llf M>MBH)JIIWMaiB » Jjm
SUPERB
UNITED STATES CURRENCY
FOR SALE
N929443* ••
SEND FOR FREE PRICE FIST
BOOKS FOR SALE
PAPER MONEY OF THE U.S.
by Friedberg. 13th Edition. Hard Bound.
$17.50 plus $2.50 postage. Total Price. $20.00
COLLECTING PAPER MONEY FOR PLEASURE AND PROFIT
by Barry Krause.
Includes a complete history of paper money.
Much information on U.S. and foreign paper money. Soft Cover. 255 pages.
$14.50 plus $2.50 postage. Total Price. $17.00.
COMPREHENSIVE CATALOG OF U.S. PAPER MONEY
by Gene Hessler.
5th Edition. Hard Cover. $29.50 plus $2.50 postage. Total Price. $32.00.
CONFEDERATE AND SOUTHERN STATES CURRENCY
by Grover Criswell Jr.
4th Edition. Hard Cover. 415 Pages. $29.50 plus $2.50 postage. Total Price. $32.00
NATIONAL BANK NOTES
by Kelly.
2nd Edition. Hard Cover.
Lists all national bank notes by state and charter number.
Gives amounts issued and what is still outstanding. 435 pages.
$31.50 plus $2.50 postage. Total Price. $34.00.
Stanley Morycz
P.O. BOX 355, DEPT. M
ENGLEWOOD, OH 45322
513 - 898-0114
Page 106 Paper Money Whole No. 171
Paper Money Whole No. 171
Page 107
WANTED TO BUY
Collections, lots, accumulations, singles, U.S., obsoletes, stock certificates, checks, counterfeit detectors, historical documents, foreign currency.
U.S. coins, medals, tokens. I buy it all — not just the "cream." The various guides are just that— guides. I will pay over "catalog" for what
I want and “market" for the balance. The "Proof"— the availability of the many rarities I have for sale— came from knowledgeable collec-
tors and dealers who sold them to me for "top prices." Quick confidential transactions with immediate payment— no deal too large.
KAGIN PAYS OVER “GREEN SHEET” BID FOR THE FOLLOWING
DEMAND NOTES
S5 1861 VG
S10 1861 VG
LEGALS
51 1862 Unc
1869 Unc.
1874 Unc., XF
1875 Unc.
1878 Unc.
1880 Brown Seal. Unc.
1880 Small Red Seal, Unc
1917 Unc
1923 Unc
52 1862 Unc
1869 Unc
1874 Unc
1875 Unc
1878 Unc
1880 Brown Seal Unc.
1880 Small Red Seal, Unc.
1917 Unc
$5 1862-63 Unc
1869 Unc
1875 Unc
1878 Unc.
1880 Brown Seal. Unc.
1880 Small Red Seal Unc.
1907 Unc,
$10 1863-63 Unc
1869 Unc.
1875 Unc
1878 Unc
1880 Brown Seal. Unc.
1880 Large Red Seal. Unc
1880 Small Red Seal, Unc
1901 Unc
1923 Unc.
$20. 1862-63 Unc.
1869 Unc
1875 Unc
1878 Unc
1880 Brown Seal. Unc
1880 Small Red Seal. Unc
S50: 1874 Unc.. XF
1880 Brown Seal. Unc.. XF. Fine
1880 Small Red Seal. Unc.. Fine
$100: 1869 Unc. XF. Fine
1875 Unc.. XF. fine
1878 XF, fine
1880 Unc
$500. $1000 Notes ’Name your price "
All U S notes wanted at lop prices” in
all conditions although I cannot pay over
' green sheet” tor everything.
COMPOUND INTEREST
TREASURY NOTES
$10: 1863-64 XF. fine
$20 1864 XF
REFUNDING CERTIFICATE
$10. 1879 XF
SILVER CERTIFICATES
$1 1886 Unc
1891 Unc
1896 Unc
1899 Unc
1923 Unc
$2 1886 Unc
1891 Unc XF
1896 Unc
1899 Unc
$5 1886 Unc XF
1891 Unc
1896 Unc
1899 Unc
1923 Unc
$10 1880 Unc
1886 Unc
1891 Unc
1908 Unc
$20 1880 Unc
1886 Unc XF F
1891 Unc
$100 1880 Unc.. XF. F
1891 Unc.. XF
TREASURY OR COIN NOTES
$1 1890 Unc
1891 Unc
$2 1890 Unc
1891 Unc . XF
$5: 1890 Unc . Fine
1891 Unc
$10 1890 Unc
1891 Unc
$20 1890 Unc
1891 Unc
NATIONAL BANKNOTES
$1 1865-75 Unc XF
S2 1865-75 Unc . XF
$5 1865-75 Unc
$10 1865-75 Unc
$201865-75 Unc
$50 1865-75 Unc
$100 1865-75 Unc.
$5 1882 Brown Back, Unc
$10 1882 Brown Back, Unc
$20 1882 Brown Back. Unc.
S50 1882 Brown Back, Unc.
SI 00 1882 Brown Bxk Unc.
S5 1882-1908 Unc.
S10 1882-1908 Unc
$50 1882-1908 Unc.
$100 1882-1908 Unc
$5 1882 Value Back Unc.XF
$10 1882 Value Back. Unc.XF.VF
$20 1882 Value Back, Unc.XF.VF
$50 1882 Value Back, Fine
$100 1882 Value Back, Fine
$5 1902 Red Seal, Unc.XF.VF
$10 1902 Red Seal. Unc.XF VF
$20 1902 Red Seal. Unc . XF
$50 1902 Red Seal. Unc.XF.VF
$100 1902 Red Seal. Unc XF VF
$5 1902-1908 Unc.
$10 1902-1908 Unc.
$20 1902-1908 Unc
$5 1902 Unc
$10 1902 Unc
$20 1902 Unc
FEDERAL RESERVE BANK NOTES
$1 1918 Unc.
$2 1918 Unc.
$5 1915/1918 Unc
$10 191511918 Unc
$20 191571918 Unc
$50 1918 Unc . XF
FEDERAL RESERVE NOTES
$5 1914 Red Seal, Unc.
$5 1914 Blue Seal. Unc.
$10 1914 Red Seal, Unc.
S10 1914 Blue Seal, Unc.
$20 1914 Red Seal, Unc
$20 1914 Blue Seal. Unc.
$50 1914 Red Seal. Unc.
$50 1914 Blue Seal. Unc
$100 1914 Red Seal, Unc
S100 1914 Blue Seal. Unc.
$500 1918 Blue Seal. Unc
$1000 1918 Blue Seal. Unc
NATIONAL GOLD BANK NOTES
$5 fine
$10 XF
$20 XF
$50 fine. VG
$100 fine. VG
GOLD CERTIFICATES
S10 1907 Unc.XF
$10 1922 Unc.
S20 1882 Unc
S20 1905 Unc
S20 1906 Unc
$20 1922 Unc
$50 1882 Unc
$50 1913 Unc
$50 1922 Unc.
$100 1882 Unc.
$1001922 Unc, XF
$500 1922 Unc
$1000 1922 Unc
More paid for scarcer signa-
tures. All U.S. notes wanted at
"top prices 1 ' in all conditions al-
though I cannot pay over "GREEN
SHEET" lor everything.
ALL FRACTIONAL PROOF AND
SPECIMEN NOTES WANTED IN
CU, MOST AT OVER "GREEN
SHEET" BID. ALL SMALL-SIZE
LEGAL AND SILVER WANTED
CU ALL SMALL-SIZE GOLD
CERTIFICATES WANTED IN
ALL CONDITIONS.
ALL LARGE AND SMALL NA-
TIONALS WANTED IN ALL
CONDITIONS.
ALL SHEETS WANTED, LARGE
AND SMALL NATIONALS,
LEGAL, SILVER, FEDERAL
ALL ERRORS WANTED, LARGE
AND SMALL
ALL ENCASED POSTAGE
WANTED
Collector Since 1928; Professional Since 1933
A Founding Charter Member; Past President 1964-65
ANA Life Member 103; Governor 1983-87
50 Year Gold Recipient 1988
M. KAGIN
Des Moines, Iowa 50309 (515) 243-7363
HIGH
1ERI(
SCR I
'ZiiimiiiTt
MTV
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IS H
JTV- jA. f
ICK
©DLQMOM, TOADQtNlP ©@ og 0[N]©c
101 TREMONT ST. .SUITE 501
BOSTON, MA 02108
James E. Skalbe
MEMBER:
(617) 695-1652
Russell R. Smith
ANS.ANA.SPMC.CN A, SCPMC.EAC.NENA.C WTS, ASCC, SAN, APS.MAS, APIC.FUN.ETC
EARLY
AMERICAN
NUMISMATICS
* 619 - 273-3566
COLONIAL &
CONTINENTAL
CURRENCY
SPECIALIZING IN:
o Colonial Coins
□ Colonial Currency
□ Rare & Choice Type
Coins
o Pre-1800 Fiscal Paper
o Encased Postage Stamps
SERVICES:
o Portfolio
Development
o Major Show
Coverage
□ Auction
Attendance
□ EARLY
□ P.O.
We maintain the
LARGEST
ACTIVE INVENTORY
IN THE WORLD!
SEND US YOUR
WANT LISTS.
FREE PRICE
LISTS AVAILABLE.
AMERICAN NUMISMATICS □
c/o Dana Linett
Box 2442 □ LaJolla, CA 92038 □
619-273-3566
Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS
Paper Money Whole No. 171
Page 109
The BLUE RIDGE NUMISMATIC ASSOCIATION, in preparing for its 35th annual Fall convention, has borrowed an idea
from a Wisconsin club:
$99 tables .... corner $149
Ed Fritz, President, says "We want to fill the convention area and restore the Blue Ridge excitement of a coin convention.
Many will remember that BRNA put on the SECOND LARGEST SHOW in the U.S. during the 60's. Guess what? We are
headed back that way." Reason? We are both dealer and collector oriented. We keep the dealer's cost down so the price saving
can be passed to the collector. We charge a nominal ($2) admission charge, per family per weekend, BRNA members and
those under 16 free. The admission helps offset the cost of advertising, not only in the numismatic trades but locally and
nationally. There are acres of free parking. Admission also includes eligibility for a door prize drawing.
COME JOIN US AUGUST If), 20, 21st at Dalton, Ga.
Dalton, GA is immediately off 1-75, 20 minutes south of Chattanooga, TN and 90 miles north of Atlanta, two well-
established collecting areas. The North Georgia Trade & Convention Center is wonderful, clean and brightly modern. A top
notch staff goes out of their way to be hepful. Unloading is easy— for setup, drive in, unload and drive out.
Family members would enjoy the many historic places of interest in the area, the Chattanooga Aquarium is rated the second
best in the country, outlet shopping and antiques abound. Modest and upward choices of hotels and restaurants.
There are rumors of a midnight riverboat ride. There will be many exhibits as well as regional meetings of national associa-
tions such as the SPMC, EAC, and SCCS. Frank Duvall of the Commemorative Society will present a talk: "What Ever Hap-
pened to the Six Million Columbian Halfs?" with a slide presentation. All this and more.
NOTE: Dealers flying into Chattanooga International Airport may receive armed escort service, free of charge, to the conven-
tion site (must be scheduled in advance with bourse chairman).
Bourse: Halbert Carmichael, Box 5265, Raleigh, NC 27650 919-832-4128
ALL STATES ESPECIALLY THE
FOLLOWING: TENN-DOYLE & TRACY
CITY: AL, AR, CT, GA, SC, NC, MS, MN.
LARGE & SMALL TYPE
ALSO
OBSOLETE AND CONFEDERATE
WRITE WITH GRADE & PRICE
SEND FOR LARGE PRICE
LIST OF NATIONALS—
SPECIFY STATE
SEND WANT LIST
DECKER’S COINS & CURRENCY
PO. BOX 69 SEYMOUR, TN
37865 (615) 428-3309
Dealers: for information Call . . .
Ed (407) 995-7984 FAX *995-7083
SUBURBAN WAS! 1INGTON/BALTIMORE
COIN SHOW, BALTIMORE, MARYLAND
NOV. 17-20, 1994
MAR 23-26, 1995
THE “COLLECTOR AM A SHOW”
LAKELAND, FLORIDA
FEATURES:
•United States Paper Money •Confederate Currency
•National Currency • Obsolete Currency
•Fractional Currency
And all Related Paper Americana
OCT. 13-16, 1994
MAR. 9-12, 1995
THE FLORIDA KEYS COIN AND
CURRENCY SHOW, KEY LARGO, FL.
JUL. 7-10, 1994
JAN. 12-15, 1995
LM-120
ANA 640
FUN LM90
Page 110
Paper Money Whole No. 171
BUYING and SELLING
PAPER MONEY
U.S., All types
Thousands of Nationals, Large and Small,
Silver Certificates, U.S. Notes, Gold Cer-
tificates, Treasury Notes, Federal Reserve
Notes, Fractional, Continental, Colonial,
Obsoletes, Depression Scrip, Checks,
Stocks, etc.
Foreign Notes from over 250 Countries
Paper Money Books and Supplies
Send us your Want List ... or ...
Ship your material for a fair offer
LOWELL C. HORWEDEL
P.O. BOX 2395
WEST LAFAYETTE, IN 47906
S PMC #2907
ANALM #1503
I COLLECT
MINNESOTA OBSOLETE CURRENCY
and NATIONAL BANK NOTES
Please offer what you have for sale.
Charles C. Parrish
P.O. Box 481
Rosemount, Minnesota 55068
(612) 423-1039
SPMC LM114 - PC DA - LM ANA Since 1976
Million Dollar
Buying Spree
Currency:
Nationals
Lg. & Sm. Type
Obsolete
MPC
Fractional
Foreign
Stocks • Bonds • Checks • Coins
Stamps • Gold • Silver
Platinum • Antique Watches
Political Items • Postcards
Baseball Cards • Masonic Items
Hummels • Doultons
Nearly Everything Collectible
complete SHOP
LIST rer io e.n I lib
FREE
EST i960
< TU* fy iq l% a\ r B*U f Vi
399 S. Stale Street - Westerville. OH 43081
1-614 882-3937
1-800-848-3966 outside Ohio
MYLAR D CURRENCY HOLDERS
This month I am pleased to report that all sizes are in stock in large
quantities so orders received today go out today. The past four
years of selling these holders has been great and many collections
I buy now are finely preserved in these For those who have not
converted, an article published this past fall in Currency Dealer
Newsletter tells it better than I can. Should you want a copy send
a stamped self-addressed #10 business envelope for a free copy.
Prices did go up due to a major rise in the cost of the raw
material from the suppliers and the fact that the plant workers want
things like pay raises etc. but don't let a few cents cost you hun-
dreds of dollars. You do know — penny wise and pound foolish.
SIZE INCHES 50 100 500 1000
Fractional 4 3 Iax2 3 U $15.00 $28.00 $127.00 $218.00
Colonial 5'/2x3 3 li6 16.50 30.50 138.00 255.00
Small Currency 6%x2 7 /a 16.75 32.00 142.00 265.00
Large Currency 7 7 Ux3'h 20.00 36.50 167.00 310 00
Check Size 9 3 kx4'l* 25.00 46.00 209.00 385.00
Baseball Card Std 2 3 Ux3 3 U 14.50 26.00 119.00 219.00
Baseball Bowman 2 7 fex 4 15.50 28,00 132.00 238 00
30.50
138.00
255.00
32.00
142.00
26500
36.50
167.00
310 00
46.00
209.00
385.00
26.00
119.00
219.00
28,00
132.00
238 00
8 3 /ax14, $1.20
each,
minimum 10 Pcs.
National currency sheet holders 8'/2X 1772, $2,50 each
17'/j" side open, minimum 10 Pcs.
SHIPPING IN THE U.S. IS INCLUDED FREE OF CHARGE
Please note: all notice to MYLAR R mean uncoated archival
quality MYLAR R type D by Dupont Co. or equivalent material
by ICI Corp. Melinex type 516.
DENLY’S OF BOSTON
P.O. Box 1010 617-482-8477 Boston, MA 02205
800-HI-DENLY FAX 617-357-8163
Paper Mone y Whole No. 171
Page 111
CANADIAN
BOUGHT AND SOLD
• CHARTERED BANKNOTES.
• DOMINION OF CANADA.
• BANK OF CANADA.
• CHEQUES, SCRIP, BONDS &
BOOKS.
FREE PRICE LIST
CHARLES D. MOORE
P.O. BOX 1296P
LEWISTON, NY 14092-1296
(416) 468-2312
LIFE MEMBER A N A. *1995 C.N.A. *143 C.P. M S. *11
HARRY
IS BUYING
NATIONALS - LARGE
AND SMALL
UNCUT SHEETS
TYPE NOTES
UNUSUAL SERIAL NUMBERS
OBSOLETES
ERRORS
HARRY E. JONES
PO Box 30369
Cleveland, Ohio 44130
216-884-0701
MfallSIllinn)
BOOKS ON PAPER MONEY
Arkansas Obsolete Notes & Script, Rothert .
.. $22
Territorials— US Territorial National Bank Notes, Huntoon . .
. . . $20
Florida, Cassidv (Incl nails & obsolete)
. . $29
Vermont Obsolete Notes & Scrip, Coulter
... $20
Indiana Obsolete Notes & Scrip, Wolka
. . $22
National Bank Notes, Hickman & Oakes 2nd ed
... $95
Indian Territory/Oklahoma/Kansas Obsolete Notes & Scrip,
US Obsolete Bank Notes 1782- 1860, Haxby 4 vol
. . . $195
Burgett and Whitfield
. . $20
Early Paper Money of America, 3rd ed., Newman
. . . $49
Iowa Obsolete Notes & Scrip, Oakes
. $20
Depression Scrip of the US 1930s
. . . $27
Minnesota Obsolete Notes & Scrip, Rockholt
$20
World Paper Money 6th ed., general issues
... $49
Pennsylvania Obsolete Notes & Scrip, Hoober
.. $35
World Paper Money 6th ed.. specialized issues
... $55
North Carolina Obsolete Notes, Pennell rpnt
. . $10
Confederate & Southern States Bonds, Criswell
. . . $25
Rhode Island & The Providence Plantations Obsolete
Confederate States Paper Money, Slabaugh
. . . $9
Notes & Scrip, Durand
. .. $25
Civil War Sutler Tokens & Cardboard Scrip, Schenkman
... $27
10% off on five or more books • Non-SPMC members add:
$3 for one book, $5 for two books, $7 for three or more books
CLASSIC COINS
— P.O. Box 95— Allen, MI 49227
BUYING and SELLING
CSA and Obsolete Notes
CSA Bonds, Stocks &
Financial Items
Extensive Catalog for $3.00,
Refundable With Order
ANA-LM
SCNA
PC DA
HUGH SHULL
P.O. Box 712, Leesville, SC 29070 / (803) 532-6747
FAX 803-532-1182
SPMC-LM
BRNA
FUN
WE ARE ALWAYS
BUYING
FRACTIONAL CURRENCY
ENCASED POSTAGE
LARGE SIZE CURRENCY
COLONIAL CURRENCY
1 \>lkw | ill 111;;
J; V'A
'p ,
l'!"{i|(!'! ifl
WRITE, CALL OR SHIP:
LEN and JEAN GLAZER
(718) 268-3221
POST OFFICE BOX 111
FOREST HILLS, N.Y. 11375
\
i
'*! '
*L
:l
'I't
T
^ scxim
of
ll’\l»hR MONn
OI .I .I.C I OHS
r (V IV
Charter Member
Standard Guide to
SMALL
SIZED
THE STANDARD GUIDE TO
SMALL-SIZED U.S. PAPER MONEY
by Dean Oakes, with special contributions from Michael Crabb. John Schwartz,
Peter Huntoon, and Bernard Schaff, 300 pages, 6" x 9”, softbound
Thousands of notes with hundreds of
large, clear photos make the new
STANDARD GUIDE TO SMALL-SIZED U.S.
PAPER MONEY the most comprehensive
treatment of small-sized U.S. paper money
ever!
This all new reference includes:
1 . Over 250 original, near-full-sized photos to
promote positive note identification without
eyestrain.
2. Listings presented logically by date in each
denomination, which makes it easy to look up the
issues that appeal to you.
3. Updated printing figures on many issues. This
information helps you know what you are buying or
selling, giving you the advantage in a competitive
marketplace.
4. Complete descriptions of all "mules."
experimental notes, and every known block for all
denominations.
5. An informative introduction that covers the
history of "modern" U.S. paper money issues.
6. A convenient 6"x 9" compact size with a reader-
friendly format. Take it along with you to shops and
shows.
7. Accurate, up-to-date market valuations to help
you when you buy or sell.
Book cover may be subject to revision.
New HeleeAe AwuLmU
Aful im
$nn 95
plus shipping
Available from your favorite hobby
dealer or direct from the publisher
Please send me copy(ies) of the STANDARD GUIDE TO
SMALL-SIZED U.S. PAPER MONEY at $24.95 plus $2.50 shipping for my first
copy; $1 .50 for each additional copy. Wisconsin residents, please add 5.5% sales tax to book and shipping total.
Foreign addresses, please add $5.00 per book for shipping, payable In U.S. funds or by check drawn on a U.S..
Canadian or Mexican bank, or by credit card.
( ) Check or money order enclosed (payable in U.S. funds) Name
( ) Charge to my ( ) VISA ( ) MasterCard
Address
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State / Zip _
MasterCard & VISA Cardholders call toll-free
800 - 258-0929
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